Word: boomingly
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...same time, underwriting standards have significantly tightened since the boom years of 2005 and 2006, when banks granted loans of up to 95% of a property's appraised value. Today loan-to-value ratios have dropped as low as 60%, so a "very large percentage of outstanding loans simply will not qualify to refinance," said Parkus. (See 25 people to blame for the financial crisis...
...Economists of all political stripes agree that the recession grew largely from certain issues: An unsustainable boom in home prices—propped up in part by daredevil lending—led to a rapid depreciation in home values. When transmitted through securitization, this loss of wealth resulted in a crisis of confidence in credit markets and a downturn in economic activity...
Florida's Gulf Coast was crawling with shady real estate investors like Neil Husani during this decade's housing boom. According to the U.S. Attorney's office in Tampa, Husani and three co-conspirators working with his Sarasota-based Capital Force, Inc., bilked seven area banks out of $83 million in a mortgage fraud scheme. Between 2003 and 2006, they bought up dozens of properties, used false information to secure mortgages far in excess of the actual property values, then pocketed the difference, which amounted to more than $40 million. The properties went into foreclosure and the banks, as well...
...meantime, Somali piracy has metastasized into the country's only boom industry. Most of the pirates, observers say, are not former fishermen, but just poor folk seeking their fortune. Right now, they hold 18 cargo ships and some 300 sailors hostage - the work of a sophisticated and well-funded operation. A few pirates have offered testimony to the international press - a headline in Thursday's Times of London read, "They stole our lobsters: A Somali pirate tells his side of the story" - but Lehr and other Somali experts express their doubts. "Nowadays," Lehr says, "this sort of thing is just...
...long: in the early 1980s he became an iconic pitchman for Miller Lite, appearing in the beer's famous "tastes great, less filling" ad campaign. Madden's barely restrained enthusiasm made him a natural salesman and he showed a knack for making anything - even foot fungus treatment - seem exciting: ("Boom! Tough-Actin' Tinactin...