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...report, issued by Washington's Center for Public Integrity, found that at least 21 of the top 25 firms taking part in the Home Affordable Modification Program, or HAMP, were heavily involved in the frenzied lending that led to the subprime blowup. The firms originated or serviced subprime loans, or both. (See which businesses are bucking the recession...
...billion will be spent in an effort to prevent as many as 9 million people from losing their homes. "Much of this money is going directly to the same financial institutions that helped create the subprime-mortgage mess in the first place," said Bill Buzenberg, executive director of the Center for Public Integrity, in a statement...
...lost $7 billion during its last fiscal year, and more red ink is flowing this year. And the recession and the drop in auto sales in the U.S. saddled Toyota with excess capacity in the U.S., leaving it little choice but to cut production, says David Cole of the Center for Automotive Research in Ann Arbor, Mich. (Read "GM and Germany Still Wrangling Over Opel...
Brad Fisher, spokesman for DCH Regional Medical Center in Tuscaloosa, says emergency room congestion is a definite concern. Already, the one at his hospital is seeing an increase in patient volume and upper respiratory issues. "Normally, we'd expect to see 180 to 190 patients a day in August, and that's blowin' and goin'," Fisher says, using a local expression for quick in-and-out cases. "The past few days, it's been 220, 262, 240. It's a lot busier than usual. We have those numbers during traditional flu season, but not during shirtsleeve weather...
...needs to be. China's powerful National Development and Reform Commission and the Development Research Center of the State Council sponsored a recent report suggesting that if it took a number of aggressive measures, China, now the world's largest greenhouse-gas polluter, could hit an emissions peak in 2030 and then begin winding down. But if global warming is to be reversed, more than emissions control will be needed. Just as essential will be the further, rapid development of clean energy. And if the Chinese decide that there's good money to be made in that...