September 24, 2009
Most have heard the saying that no one takes care of a rental car like they take care of their own. Why not floor the gas pedal or track sand into the car – the reasoning goes – if you’ll never see it again after this week? In many ways, this is a perfect analogy to government waste. No matter which party is in power, spending other people’s money rarely compels one to be as prudent as if they were spending their own. Combine this with the typical politician’s time horizon (the next election) and it’s easy to see why so many government projects and initiatives have been swallowed by waste over the years. Here are 12 of the most outrageous examples.
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September 15, 2009
Foreclosures have skyrocketed virtually every month since the collapse of the housing market. Across the country, people who bought homes at inflated prices and took adjustable rate mortgages are losing the properties to foreclosure in record numbers as home values decline. (To put the sheer quantity into context, consider this: foreclosures are reported to have “fallen slightly” during August, according to the Washington Post, because there were “only” 358,471 foreclosure filings nationwide during that month. That’s an 18% increase from August 2008!) However, not every story follows the typical “homeowner borrowed too much, homeowner loses home” formula. The stories below run the gamut from weird to tragic to outrageous, capturing some of the less common events on today’s foreclosure scene.
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