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China trains professional debt collectors as bad loans mount (New Kerala) - Beijing, Sept 4: China has trained the first batch of 100 debt collectors as the profession, key to the recovery of many debt-ridden Chinese banks and financial institutions, is seeking legal status after the government outlawed it in 2000 due to cases of violence.. Critics decry 'destroy and lend' Lebanon policy (Asia Times) - WASHINGTON - Lebanon is firmly en route to becoming the third entity in the Middle East after Iraq and the Palestinian territories to experience a devastating Washington-backed war and a massive influx of new illegitimate debt to cover reconstruction expenses, anti-debt activists say.. Illusions of Prosperity (GoldSeek.com) - *** Crowd mentality Americans are becoming soft - from their waistlines to their currency *** The slightest recovery to normalcy might be abnormally painful for the economy do you feel lucky, dear readers?. Bank of Botetourt Selects BSG Financial's Re$ubmitIt for Electronic Check Recovery (Business Wire via Yahoo! Finance) - LOUISVILLE, Ky.----Aug. 28, 2006--BSG Financial, LLC, a provider of profit-enhancing programs and marketing services to the financial industry, announced that Buchanan, Va.-based Bank of Botetourt has selected its electronic check recovery solution, Re$ubmitIt®, to meet the needs of its commercial accountholders and increase revenue.. Pennsylvania Association of Community Bankers Selects BSG Financial as Preferred Vendor for Re$ubmitIt (Business Wire via Yahoo! Finance) - LOUISVILLE, Ky.----Aug. 30, 2006--BSG Financial, LLC, a provider of profit-enhancing programs and marketing services to the financial industry, announced the Pennsylvania Association of Community Bankers has chosen the company as a preferred vendor for its electronic check recovery solution, Re$ubmitIt®.. Your Home Is Not A Cash Machine! (Fool.co.uk via Yahoo! UK & Ireland Finance) - Booming house prices have encouraged many people to borrow against their homes. Alas, this strategy can backfire spectacularly.. Memories of the flood (Athens News) - Katrina's winds shredded through the Gulf South like a giant scythe, but it was the flood in New Orleans that jolted the national psyche, leaving the deepest memory. The flood turned the Big Easy into a disaster zone, planting the image of a Third-World backwater.. Comment: Your Home Is Not A Cash Machine! (The Motley Fool) - In financial jargon, there is no shortage of TLAs (three-letter acronyms) -- which, fittingly, is itself a TLA. For example, you have APR (annual percentage rate), CGT (capital gains tax), PPI (the dreaded payment protection insurance), TAR (total amount repayable) and many more.. Ciena Reports Fiscal Third Quarter 2006 Results (Business Wire via Yahoo! Finance) - LINTHICUM, Md.----Aug. 31, 2006--Ciena® Corporation , the network specialist, today announced results for its fiscal third quarter 2006 ended July 31, 2006. Revenue for the third quarter totaled $152.5 million, representing a 16.3% sequential increase from fiscal second quarter revenue of $131.2 million, and an increase of 38.0% over the same period a year ago when the Company reported sales of . Debt recovery hit by IT woes (Computing.co.uk) - Sarah Arnott, Computing , Thursday 24 August 2006 at 00:00:00 Official figures reveal government backlog of half a million cases The government’s debt recovery arm has a backlog of more than half a million cases caused by problems with software intended to streamline the organisation . > Read the full article .