Wednesday, September 29, 2010

Germany makes final reparation payments for World War I - ABC News


German government will pay the last instalment of interest on foreign bonds it issued in 1924 and 1930 to raise cash to fulfil the enormous reparations demands the victorious Allies made after World War I.

Germany suspended annual payments in 1931 during the global financial crisis and Adolf Hitler unsurprisingly declined to resume them when he came to power in 1933.

But in 1953, West Germany agreed at an international conference in London to service its international bond obligations from before World War II. In the years that followed it repaid the principal on the bonds, which had been issued to private and institutional investors in countries including the United States.


Germany was allowed to wait until it unified before paying some €125 million in outstanding interest that had accrued on its foreign debt in the years 1945 to 1952.

Click on the following for more details:  Germany makes final reparation payments for World War I - ABC News

JPMorgan suspends certain foreclosures

JPMorgan Chase is suspending more than 50,000 foreclosures as it reviews the legitimacy of legal documents in those cases, the bank said Wednesday.

growing legal problem. The issue could stall an already overloaded foreclosure process and may mean some homeowners lost their homes illegally.

Analysts don't expect the delays to reduce the number of foreclosures in the long run.

CLICK ON THE FOLLOWING FOR MORE DETAILS:  JPMorgan suspends certain foreclosures - Yahoo! Finance