China sends finance experts to tackle regions’ debts
China sends finance experts to tackle regions’ debts – https://on.ft.com/47sWZPA via @FT
Santander protects customers from mortgage hike after Bank of England’s rate rise
https://www.thisismoney.co.uk/money/article-12375177/Santander-protects-customers-mortgage-hike-Bank-Englands-rate-rise.html
Portugal’s bid to attract foreign money backfires as rental market goes ‘crazy’
This isn’t just happening in Portugal. The financialization of housing is an issue in many countries and cities. However, the benefits need to be considered and how anf whethet locals are sharing in on the benefits. https://www.theguardian.com/world/2023/jul/29/portugals-bid-to-attract-foreign-money-backfires-as-rental-market-goes-crazy?CMP=Share_AndroidApp_Other
Here’s what changed in the new Fed statement
https://www.cnbc.com/2023/07/26/heres-what-changed-in-the-new-fed-statement.html
Inside the PPP Scams and CARES Act Fraud That Cost the U.S. Billions – Rolling Stone
https://www.rollingstone.com/politics/politics-features/covid-relief-scam-fraud-money-billions-1234784448/
Lawyers with supreme court business paid Clarence Thomas aide via Venmo
Is the Supreme Court for sale? https://www.theguardian.com/us-news/2023/jul/12/clarence-thomas-aide-venmo-payments-lawyers-supreme-court?CMP=Share_AndroidApp_Other
In charts: how privatisation drained Thames Water’s coffers
On the dangers of privatising a critical service. And the UK has done it about as bad as you can imagine. Poor regulation combined with highly indebted water provider owned by private equity sowed the seeds for an epic disaster. https://www.theguardian.com/business/2023/jun/30/in-charts-how-privatisation-drained-thames-waters-coffers?CMP=Share_AndroidApp_Other
In California, statewide housing reforms brush against local resistance | Brookings
https://www.brookings.edu/articles/in-california-statewide-housing-reforms-brush-against-local-resistance/
US student loan payments to resume as Americans struggle to pay other debts | S&P Global Market Intelligence
This represents a massive decrease in disoaable income for millions. I hope they are prepared. https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/us-student-loan-payments-to-resume-as-americans-struggle-to-pay-other-debts-76294955
Mortgage 12-month grace period: what’s in it for you?
None of these UK mortgage payment shock solutions deal with the underlying problem and they actually make the problem worst. A 12 month grace period won’t solve the problem and assuming interest accrues during the grace period borrowers are worse off. Neither borrower income nor integrates are likely to change much, hence the grace period …