Word: buyer
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...Ancient Street is for the casual fossil buyer, of course; Chinese moguls and Western collectors head instead for dealers like Wang Facai (literally meaning "fortune"), whose store called Rare Stones, carries no precious jewels, just some dusty Ming vases (likely fakes) and cheap fish fossils scattered on the shelves. The bulky Wang, in a muscle T-shirt, glances around before beckoning me into one of two back rooms. From a secret closet behind a mirror, he pulls out a slab of rock which contains the profile of a half bird, half dinosaur, Confuciusornis sanctus, whose discovery in 1994 helped scientists...
...demand was coming not so much from borrowers as from Wall Street, which packaged the loans into securities to sell to investors looking to pile into "low risk" real estate. So mortgage brokers found ways to squeeze buyers into first and second mortgages even when their finances were questionable. Consider the appellation NINJA, used to indicate a buyer with no income, no job and no assets. "Capital was made available to every Tom, Dick and Harry," says Zachary Urban, who runs the Colorado Foreclosure Hotline...
Back in Colorado, people are reacting. This summer, three laws went into effect that, among other things, require anyone selling a home loan to make a reasonable inquiry into the buyer's ability to repay it. In recent years, as a growing percentage of loans have been generated by brokers rather than the banks that ultimately owned the mortgages, best interests have been at odds: brokers can make more money with higher-rate loans, even if buyers qualify for a better deal. And that doesn't even touch the lending arms of home builders, which come with their own special...
...company's most recent owner, Italian appliance giant Merloni, invested heavily but never managed to turn a profit, and announced in early 2005 that a buyer had to be found if the 94-year-old company was to survive. With no Italian bidders, offers came from Russia and Britain, though they were focused merely on acquiring the brand. Qianjiang, instead, which turns out 1.2 million scooters a year in China, saw value in buying - and relaunching - Benelli's design and production. That would give them a foothold in the European market, and the move had an industrial logic: unlike Japan...
...Altmire of being "in lockstep with [Speaker of the House Nancy] Pelosi, putting our troops in danger." The lifelong Republican voted for Altmire in 2006 after GOP ethics scandals left him wanting a fresh face. But because he also wants more troops in Iraq, not fewer, Proch is feeling buyer's remorse...