Word: bankes
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...February, that means eliminating the family's monthly mortgage payments by selling their Richmond, Va., home and moving into her parents' house near Los Angeles. To make matters worse, their Richmond house has lost so much value, the only option appears to be a short-sell to a bank or foreclosure. (See how Americans are spending...
Christopher Foote, a senior economist at the Federal Reserve Bank of Boston, who studied negative equity in Massachusetts during the late 1980s and early 1990s when home prices dropped 23%, argues that most walk-aways are likely driven by the combination of two things: both negative equity and an economic hardship, such as job loss. (See 10 ways your job will change...
With Judt’s piece in mind—and in light of Obama’s recent call for all settlement activity to freeze—the Israeli government’s June 29 announcement to build yet another 50 homes in a West Bank settlement north of Jerusalem (which, according to Ha’aretz, could likely grow into as many as 1,450) only serves to highlight just how contentious “the settlement issue” has become between Israel and its closest ally-cum-benefactor...
...beginning of his professional career, he made a name for himself as the wunderkind who reformed the ailing Ford Motor Co. At the end, he tried to rehabilitate his reputation, as a do-gooder striving to save the globe's poorer nations as head of the World Bank. But Robert McNamara, who died early Monday morning in his sleep at home at the age of 93 (his wife Diana told the Associated Press he had been in failing health for some time), will always be best known for his role as the architect of Washington's failed Vietnam policy...
...McNamara stepped down in 1968 to run the World Bank. During his 13 years there, he tripled the bank's loans to developing nations and focused its funds on rural development. Perhaps most important, he helped the international community see that the world's poorest citizens needed food and shelter more than huge industrial projects...