Insight and investigations from our expert reporters
from Global News Journal:
Tim Large, editor of Thomson Reuters Foundation’s AlertNet humanitarian news service, gives the back story to his special report Crisis grips North Korean rice bowl <http://www.reuters.com/article/2011/10/07/us-korea-north-food-idUSTRE7956DU20111007> . Any opinions expressed are his own.
Malnourished children presented at a clinic in North Korea during a guided tour of a disaster-hit province. (Reuters/Tim Large)
Back in May, Matthew Goldstein wrote about commodities trader and hip-hop promoter Tyrone Gilliams in the special report “A fame-seeking Philly trader’s rap falls flat.”
Today Gilliams was arrested on charges of running a $4 million investment scam.
Time to re-read the original story, which detailed allegations by Ohio businessman David Parlin that Gilliams used some of Parlin’s money to sponsor a glitzy black-tie charitable event in Philadelphia attended by rappers and local politicians.
from Unstructured Finance:
By Matthew Goldstein
For months now we've been hearing a lot about the $14 trillion in debt owed by the U.S. government. But there's been far too little talk about the almost equally high debt tab owed by U.S. consumers.
The Federal Reserve recently reported that total outstanding debt owed by U.S. consumers was $11.4 trillion, down from its third-quarter 2008 peak of $12.5 trillion. At that pace, it could take years for U.S. consumers to delever, or in plain English--reduce the debts they owe on their homes, credit cards, autos and student loans. But when it comes to the staggering sum of consumer debt in this country, it's pretty clear that time is not on our side.