Gayle McLaughlin marched in Occupy Wall Street protests and rails against “corporate domination.” Now, as mayor of Richmond, California, the largest U.S. city with a Green Party leader, she wants to seize home loans and make lenders take less than they’re owed to help residents.
Richmond, California, is planning to buy residential mortgages in low-income areas for as little as 25 cents on the dollar and may force the sales under eminent domain laws, moving forward with a controversial program that would potentially seize home loans from investors.
Tucson, Arizona, the sixth-poorest U.S. big city, stands to gain protection from federal defense- spending cuts as its home county plans a record bond package, in part to entice Raytheon Co. to expand missile production.
The U.S. poverty rate rose to the highest level in 15 years in 2009, government data show, underscoring the toll the recession took on household incomes and adding fuel to an election-year debate over the Obama administration’s economic policies.
The poverty rate in the U.S. rose to the highest level in 15 years in 2009, underscoring the toll the recession took on the nation and adding fuel to an election- year debate over the Obama administration’s economic policies.
The landmark Blackstone Hotel in downtown Chicago, which has hosted 12 U.S. presidents, opened in 2008 after a two-year, $116 million renovation. Inside the Beaux Arts structure, built in 1910, buffed marble staircases greet guests spending up to $699 a night for rooms with views of Lake Michigan.