The recent rapid appreciation of house prices in many U.S. markets has prompted concern over the possible effects of a sharp decline in prices, especially for commercial banks and other real estate lenders. This article examines regional real estate booms and busts in the 1980s and 1990s: Only about half of state house price booms were followed by a severe decline in prices, but large declines occurred in several states that did not have a prior boom. Banks in states that had large house price declines experienced high loan default rates and, thus, low profit and high failure rates. Although U.S. banks may have become more exposed to residential real estate recently, they appear less vulnerable to a decline in house prices than banks in states with large price declines in the earlier pe...
KIMBALL - In a town that's been gutted by floods and hammered by the booms and busts of the coal industry, it takes a measure of tenacity just to hang on. But the McDowell County community of Kimball will celebrate its 100th birthday next week, and will use the occasion to showcase a rich history that goes beyond high water and hard times.
An Ontario man who federal immigration agents say had amassed one of the largest collections of child pornography was arrested Friday and released on bail later that day by a federal judge. Michael Peterson, who was arrested with seven other people as part of a child porn sting, was suspected of possessing more than 500,000 pictures and 7,500 videos depicting child porn, according to federal agents.
CALEXICO, Calif. - The towering iron gates opened onto a palm- lined driveway that led past the family church, a twisting water slide and two man-made lakes, one stocked with fish, the other with jet skis. With its soaring twin bell towers, each topped by a cross, the mansion in the emerald hills outside Culiacan, Mexico had an almost surreal grandeur. It reminded Carlos "Charlie" Cuevas of Disneyland, without the smiles.
The number of methamphetamine labs found across the region and state continues to rise, but the money to clean them up has run out. Since 1989, the Drug Enforcement Administration has managed federal funds earmarked for law enforcement agencies throughout the country to devote to environmental cleanups.
In two big busts in the past six weeks, the Metro Drug Unit seized more than 50 pounds of marijuana. Thats nearly half the total amount confiscated in all of last year. The unit seized 28.5 pounds from a vehicle in Charleston last week and 24.5 pounds from a home on the citys West Side in June. Weve had a great year, said Lt. Chad Napier, the units commander and a Charleston Police officer. This year has been the best year of my career. Napier said the quantity of illegal drugs and drug money seized by the department is up across the board this year but because of the large number of active cases, he is limited on what he can talk about. He did provide some statistics for 2009. Napier noted an increase in OxyContin seizures last year, rising from 503 pills seized in 2008 to 1,857 pills ...
ST. LOUIS - Data from state officials shows Tennessee has surpassed Missouri in the number of meth lab busts and seizures for the first time since 2003. The Missouri State Highway Patrol said the state had 1,960 meth lab incidents in 2010. That's a 10 percent increase over the previous year.
SEC Indiana 73, (1) Kentucky 72,
LA PUENTE - Known for a dense concentration of marijuana dispensaries within a few blocks of each other, the city is quickly losing its buzz because of a looming closure deadline and multiple narcotics busts. Four of the 10 dispensaries in La Puente didn't apply for an extension to the city's upcoming ban, which takes effect Feb. 2.
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