Word: augustness
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...Morgan Chase, have announced major new efforts, since it is generally in a lender's best interest to keep borrowers in their homes, even if they're paying less. Foreclosure is such a costly process, a lender might easily only recoup half of what it's owed. In August, the Federal Deposit Insurance Corporation instituted an aggressive loan-modification effort at the failed IndyMac Bank, and that program is now a template for what the government might encourage at a national level. Basically, the FDIC wants to set up a series of incentives, like $1,000 for each modification...
...market has dropped more than 70% in the past year, as the nation's business élite have dumped stocks to repay the huge loans they had taken out to finance acquisitions in Russia and abroad. Capital is fleeing--investors have pulled about $245 billion out of Russia since August--and the ruble is under pressure...
...Complaint: Andres Felipe Alonso-Rodriguez flew on Ryanair last August from Valencia, Spain, to Milan. At check-in, the scale at the airline counter showed that his bag weighed 12 kg (26.5 lb.), 2 kg above the limit for a carry-on, so Alonso-Rodriguez was forced to check it. The cost: 20 euros. That's almost one euro for every one of his names...
...maintained in power by the U.S. and its NATO allies, but the relationship between them continues to sour - and that could have significant consequences for the Obama Administration's plans to win the war in Afghanistan. Thursday's announcement postponing Afghanistan's presidential election from April to August means that Karzai will remain in office as a new U.S. plan for Afghanistan goes into effect, even though U.S. and NATO commanders have long warned that the rampant corruption and inefficiency of the Karzai government are undermining the war effort. NATO Secretary-General Jaap de Hoop Scheffer recently wrote...
...course, may simply be grandstanding with a view to bolstering his support ahead of the election. It was rescheduled, after all, because security conditions preclude holding a credible poll, and unless the Taliban is rolled back in much of the south and east of the country, even an August poll would remain in doubt - despite the fact that Karzai's term of office ends in May. But the criticisms he raises resonate with much of the Afghan public, which is particularly angered by air strikes that often inflict civilian casualties. Arming local warlords to fight the Taliban, Karzai warns...