Except for that little dust up starting in 1938, the last time something in Austria fell, it started a World War. Fitch Ratings joined S&P and Moody’s in downgrading Hungary’s sovereign debt to junk level. Hungary rejected all bids at an auction of 12-month Treasury bills worth 40 billion forint ($186 million) after getting bids for only 22.8 billion forint. However, the concern is not for Hungary, but for neighboring Austria whose banks have a $226 billion exposure to the debt of former Soviet bloc countries. If Austrian banks fail, then… So it begins.
Despite assuring everyone that they’ve stopped the practice, the Recorder of Winnebago County Illinois Nacy McPherson, reports that she is still receiving foreclosure filings that appear to have been “robo-signed”
Nevada passed a law effective October 1 that made it a felony – holding individuals criminally liable – to make a false representation concerning a real estate title.