| New Hampshire Primary Coverage - Tuesday, January 8, 6:00 p.m. - 1:00 ...
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Columns - Situation Report
The truth, they say, is the first casualty of war. In more than two decades of the separatist war in Sri Lanka, this axiom has been proved right many a time. If one were to add up the casualty figures put out by Government officials since inception, it would have wiped out the population of Jaffna twice over. There would be no one left. On the other hand, if all the casualty figures for the Security Forces, given by the Liberation Tigers of Tamil Eelam (LTTE) are added up, a sizeable segment of the Security Forces would have been wiped out. That is not true either. However, in the dissemination of information on the Government side, there has been a rapid transformation. At first the military fought the war and the Department of Information disseminated the information to the media, both local and foreign.
Mortgage crisis inflicts collateral damage
The national surge in mortgage defaults is claiming more victims than just the thousands of subprime borrowers facing the prospect of losing their homes. Social service agencies say homeless rates are on the rise not only as families lose their own homes to foreclosure but also as renters are evicted after their landlords default. Financial analysts warn that state and local governments will soon feel the pinch of sharply reduced property tax revenue. And counselors say divorces and reports of abuse are rising as families burdened by impending foreclosure take their stress out on one another. The ripple effect illustrates the wide-ranging impact the subprime mortgage crash has had not only on the U.S. economy but on society at large, said Robert Reich, who was labor secretary during the Clinton administration.
More than 20 Years in the Making
For an especially idiosyncratic trading week, the Dow rallied 0.9% (down 8.0% y-t-d) and the S&P500 added 0.4% (down 9.4%). The Transports surged 6.6% (down 2.1%), while the Utilities were smacked for 4.7% (down 10.1%). The Morgan Stanley Cyclical index jumped 4.3% (down 8.3%), while the Morgan Stanley Consumer index declined 1.3% (down 8.9%). The S&P400 Mid-Caps gained 2.0% (down 10.1%) and the small cap Russell 2000 rallied 2.2% (down 10.1%). The NASDAQ100 fell 3.1% (down 14.2%), and the Morgan Stanley High Tech index declined 2.3% (down 14.2%). The Semiconductors dipped 1.1% (down 13.1%). The Street.com Internet Index added 0.2% (down 11.4%) and the NASDAQ Telecommunications index recovered 1.1% (down 11.9%). The volatile Biotechs sank 6.5% (down 6.0%). Financial stocks went into panic melt-up mode.
Wachovia Names David Pope President for Mortgage and Retail Credit ...
CHARLOTTE, N.C., Jan. 24 /PRNewswire-FirstCall/ -- Wachovia Corporation announced today that David Pope has been named president of Wachovia Mortgage and Retail Credit. In his new role, Pope will be responsible for leading the daily sales, fulfillment, retention, service and operational aspects of the mortgage and retail credit businesses. "David has done an exceptional job in his role as chief operating officer for the Mortgage and Retail Credit Group over the past seven months," said Ben Jenkins, head of the general banking group for Wachovia Bank. "He has been instrumental in continuing to integrate World Savings and Wachovia Mortgage into one unified organization." Pope has served in a variety of roles over the course of a 20-year career with Wachovia. Prior to his most recent role, Pope was head of Wachovia's Business Banking group for three years.
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