Fed chief says subprime losses could hit $100bn
Business Law
Total losses from the subprime mortgage meltdown may be in the order of $50bn to $100bn, according to estimates cited by Ben Bernanke in testimony to Congress on Thursday.
The Fed chairman said:"There clearly will be some significant financial losses associated with defaults and delinquencies on these mortgages."
Mr Bernanke also cautioned Congress against legislating narrowly on China's exchange rate, rather than addressing this in combination with the need for structural reform.
He said the exchange rate was "not a subsidy in the legal sense" but rather the cause of distortions in the Chinese economy that channel resources towards exports rather than production for domestic demand.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.