Word: bankes
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Dates: during 2000-2009
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...expect a do-over from the outgoing Administration, but not a paper-over that would rescue speculators. FDIC chief Sheila Bair has been pushing to use new loan-guarantee authority passed under the $700 billion banking bailout to adjust troubled homeowner mortgages. The plan would provide $50 billion from the government to be tapped as insurance for banks willing to adjust mortgages in a loss-sharing agreement. The FDIC would guarantee any losses on loans readjusted for homeowners who can show a 38% debt-to-income ratio, similar to what the FDIC worked...
...would be fanciful to draw too many comparisons between the voters of Gaza and the West Bank and those in the United States. But it is clear that in 2004 much of the world simply misunderstood what was happening in America and underestimated the forces which led to President Bush’s re-election. Perhaps we were all looking in the wrong place...
...future quality to this: it's what used to be derided as big-spending liberalism. The Beltway consensus is that the economic crisis makes it necessary now. But public cynicism about government requires that the next President builds accountability into his spending programs. That's why the Infrastructure Bank that Obama proposed during the campaign may be crucial: it would create a bipartisan board of five governors who would judge and approve all major projects...
...normal times, getting an Infrastructure Bank through Congress would be impossible. "It is a direct threat to their way of life," says Norman Ornstein of the American Enterprise Institute. "It changes the dynamic of how you deal with earmarks," by taking the decision-making, and to some extent the credit, away from politicians. "I know one huge ally Obama would have on this," Ornstein adds with a laugh. "John McCain...
...even if the real estate slide is halted, that may not be enough to keep the domestic economy afloat. The Bank of Japan and the Ministry of Finance recently released reports projecting weakening local economies throughout the country. Japanese household spending in September is down for the seventh straight month. The number of heads of households without a job rose 20,000 from last year, up for the sixth straight month...