Word: bankses
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At the heart of the plan that the Treasury is reportedly considering is the idea that lower mortgage rates will boost home sales and eventually house values. The plan hasn't been officially announced so it's not certain exactly what the Treasury would do, but one way it could...
But critics of the plan say that is will do little to boost sales, and could wind up being surprisingly expensive. Here's their math: In order to get lenders to make the loans at below market rates, the government would have to basically pay banks the difference between the...
As if to highlight the unpopularity of a potential rescue package, a dozen or so protesters in the back of the room interrupted the hearing an hour later: "The bailout is a sell out! The poor are suffering!" they chanted. A few yelled additional complaints: "The homeless! The homeless!" "Money...
Steam has long powered Icelandic dreams. Pockets of underground water heated by the earth's core may not be particularly glamorous, but tiny Iceland has spent decades figuring out useful ways to harness its heat and power, employing it for everything from baking bread to turning turbines. Geothermal power now...
There will likely be scant accountability following the recent extinction of banks like Lehman Bros. and Bear Stearns, the collapse and sale of Merrill Lynch, or he bailout of A.I.G. Richard S. Fuld, Jr., Lehman’s CEO, might not face any more discomfort than his public roasting by...