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...Writing down loan balances for such "underwater" homeowners, while costly for the bank, gives borrowers more incentive to stay current on their mortgage. The Bank of America program, which has won praise from consumer advocates, could help as many as 45,000 borrowers reduce what they owe by $3 billion. "Bank of America is to be commended for launching a program to reduce principal balances on loans that are underwater," said John Taylor, head of the National Community Reinvestment Coalition of Bank of America's program shortly after it was announced. "The rest of the industry should follow suit." (Last...
...postponement of the dream”—those were the words used by University President Drew G. Faust earlier this month to describe the University’s stalled billion dollar expansion in Allston, a development plan that would have replaced a part of Allston’s industrial lots with a cutting-edge research center...
...where was their outrage about threats to kill Sen. Jim Bunning (R-KY) only three weeks prior? Bunning was menaced for filibustering against $13 billion in deficit spending to expand unemployment benefits. And how about House Republican Whip Eric Cantor (R-VA), who opposed the health-care bill? When a bullet was fired into his office window, Cantor reported it to the police—not the media—to avoid inciting violence...
...time last year. That was before last summer, when conservatives lashed out at what they saw as reckless big-government spending in Washington and cast Rubio as their man over the more moderate Crist. Rubio repeatedly hammered home his campaign message - that Crist had embraced President Obama's $787 billion economic stimulus plan, which Rubio calls a profligate failure. "I will stand up to [Obama] and everyone knows you won't," Rubio told Crist. Obama "is attempting to fundamentally redefine the role of government in America, and we can't cooperate with that." (See 10 elections that changed America...
...first debate - though Crist had more to lose by not winning. In fact, on one of the key subjects, taxes, both may have given a boost to the eventual Democratic candidate, given the fact that a fifth of Florida's electorate is independent. In order to plug a $2.2 billion hole in Florida's budget, Crist stumped not for new taxes but for new user fees - for example, higher costs for driver's licenses and annual motor-vehicle-tag renewals, not a popular proposition during a recession in a state where public transportation is thin and almost everyone drives. (Granted...