- GOP hopes taking shutdown off the table with budget deal will pay dividends
- Chinese Death Star: The moon cited as the perfect launch pad for ballistic missiles
- Help wanted: Homeland Security plagued by vacancies at the top
- We are not amused: Queen’s protection officers warned to keep ‘sticky fingers’ off the royal cashews
- Unleash the crossbows: Gov. Scott Walker creates new hunting season
- Bubonic plague kills 20 in Madagascar
- G-20 diplomats fell for hacker attack promising nude photos of former French first lady Carla Bruni
- Minnesota guardsman charged with stealing private soldier data for fake IDs
- Florida appeals court rules universities can’t regulate guns
- Vladimir Putin defends Russian conservative values
Consumer borrowing up for 10th straight month
Americans borrowed more money in July than any other month in more than three years. But they cut back on using their credit cards.
Consumer borrowing rose nearly $12 billion in July, the Federal Reserve said Thursday. Greater demand for school and auto loans fueled the increase. A category that measures credit card use fell in July after large increases in May and June.
Total consumer borrowing increased to a seasonally adjusted annual level of $2.45 trillion. That’s barely 2 percent above the four-year low reached in September.
Borrowing is usually a sign of confidence in the economy. Consumers tend to take on more debt when they feel wealthier. But an increase in credit card use can be a sign that people have fallen on harder times.
Former inspector returns to local private sector
Former Justice Department Inspector General Glenn A. Fine has joined the international law firm Dechert LLP as a partner in the White Collar and Securities Litigation Practice in the District. Mr. Fine served as the inspector general from December 2000 until January 2011.
Mr. Fine will focus his practice on internal investigations, corporate compliance issues, corporate monitorships, government investigations, and global white collar and securities matters.
“The firm has an extremely strong pool of talented lawyers and an outstanding international reputation,” said Mr. Fine, who joined the Office of the Inspector General in January 1995, initially serving as special counsel but later moving to director of special investigations and review unit, where he served until his nomination in 2000 as inspector general.
By Mangosuthu Buthelezi
Memories of a long brotherhood tempered in common struggle
- Obama's Afghanistan experts stumped on U.S. death toll, war costs during hearing
- NAPOLITANO: A conspiracy so vast
- House votes for bargain to end budget drama
- Biden guarantees victory on immigration reform
- Comma on!: Twitter erupts over Obama-Castro 'marriage'
- ICT trade mission to Azerbaijan successfully completed
- Obama takes 'selfie' at Mandela's funeral service
- CHELLANEY: China's game of chicken
- Inside China: Ukraine gets nuke umbrella
- EDITORIAL: The Potemkin website
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Let it snow