Defend democracy in the South.

Banks and Finance

Local governments make run on Florida investment fund

By R. Neal
November 30, 2007 - Citing concerns about investments in sub-prime mortgage backed securities, Florida local governments have withdrawn billions of dollars from a State of Florida investment fund, including withdrawals of $3.5 billion in one day. The run on the State Board of Administration operated Local Government Investment Pool has resulted in a freeze on withdrawals from the fund.

High-interest loans lead to foreclosures

December 22, 2006 - In the growing body of research showing that high-interest "sub-prime" home loans are bad for consumers and the economy, the Center for Responsible Lending has released a damning study that finds one out of five subprime loans end up as foreclosures:

Mortgage woes linger in states hit hard by Katrina

December 14, 2006 - The number of U.S. homeowners who have fallen behind on their mortgage payments is climbing, and the delinquency problem is especially severe in storm-ravaged Mississippi and Louisiana, where many people face the threat of losing the roof over their head from a disaster of a different kind.

Poverty and plenty

September 22, 2006 - Forbes has released its latest list of the "Richest 400" in the country. For the first time in the magazine's rankings, all on the list are billionaires.

Poverty statistics "critically flawed"

By R. Neal
September 7, 2006 - Several progressive blogs, including Facing South, have noted the Census Bureau's latest report on income and poverty. The latest right-wing talking point is that the statistics are bogus, and you won't believe why:

The fall of Ralph Reed

July 19, 2006 - Ralph Reed, the former darling of the Christian right movement, conceded defeat in his bid for the Republican nomination for Lt. Governor of Georgia at 10 pm last night.

The Politics of Greed

July 18, 2006 - I'm back from a mostly-restful vacation. Many thanks to R. Neal for covering last week, including his excellent exclusive interview with former N.C. Sen. John Edwards about fighting poverty in America.