2 Stories

Russian Banks Foreclose on Pigs, Lingerie

As defaults soar, banks stuck with weird collateral

(Newser) - With loan defaults soaring, Russia’s banks have had to seize a lot of collateral lately—and we’re not talking about houses. By year’s end, 20% of Russian loans could be non-performing, by Moody’s estimate. In order to recoup those losses, the banks have accepted controlling stakes... More »

World Frowns on American For-Profit Bail System

Critics find private system unfair, corrupt; it's also effective

(Newser) - For the rest of the world, America’s bail bonds industry is a horrifying concept. Bail bondsmen are a private, commercial wing of the US justice system, putting up defendants’ bail in exchange for a non-refundable fee, the New York Times explains. To critics, the system is unfair and corrupt,... More »

2 Stories