Word: america
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...number of homeowners headed toward foreclosure is rising so quickly that "you need somebody to project what the projections will be - because they're just changing so fast," said Lindley Higgins, the applied-research manager at NeighborWorks America, an urban revitalization project created by Congress. A decade ago, Higgins said, 400,000 foreclosures nationwide was a busy year. America may see 2.5 million...
...Brutal Game There are about 75 million homeowners in America, according to the U.S. census. The latest gloomy estimates suggest that upwards of 6.4 million homes are at risk of sinking into foreclosure by the end of 2012. That number has no precedent, and its impact is only beginning to register. Populist pundits have struck a nerve with angry denunciations of Obama's plan. "See if we really want to subsidize the losers' mortgages," CNBC's Rick Santelli demanded - and the gut level reaction of millions of taxpayers across the country was, unquestionably, no. Not if we have a choice...
...people in charge are either incompetent or dishonest. The average person must wonder whether anyone is in charge when the forecasts of bank failure rates are unbelievably low at the same time that the Administration is debating whether it may have to nationalize Citigroup (C) or Bank of America...
...Latin America crisis nearly took Citibank under...
President Obama has acknowledged the success of the Swedish model, but he says that “cultural differences” and the relative complexity of our banking system make the model unfit for America. However, only the 19 biggest banks would be up for government receivership. Moreover, keep in mind that the FDIC takes over small banks all the time. Even Alan Greenspan, the image of free-market capitalism as Federal Reserve chairman from 1987 to 2006, has acknowledged that, “once in a hundred years, this is what you do.” Now is certainly...