Merkel holds anti-crisis summit - Straits Times

BERLIN - GERMAN Chancellor Angela Merkel, under fire over her reaction to the financial crisis, called together business leaders, ministers and experts on Sunday to discuss ways of escaping the international recession.
‘No concrete measure was decided,’ Economy Minister Michael Glos said after the six-hour meeting finished.
The goal of the meeting had been to [...]

Modified Loans Often Lead Homeowners Back to Trouble

By VIKAS BAJAJ
Published: December 8, 2008
Most troubled homeowners whose mortgages were modified are again falling behind on payments, a top banking regulator said on Monday, raising questions about whether policy makers and lenders can successfully help them stay in their homes.
Data from banks show that more than half of loans modified during the first three [...]