Word: costes
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...Pension Protection Act. But experts say some companies will lobby for Congress to relax some aspects of the act, arguing that being forced to significantly increase contributions to pension plans may force them to file for bankruptcy. When President Bush signed the Pension Protection Act in 2006, companies won cost-savings concessions, such as the ability to use a higher interest rate in computing lump sump pension payouts. But the savings from those concessions have been swamped by stock market losses...
...unmitigated mistake," says Edward Glaeser, a Harvard University economics professor. "The amount of help this plan offers is vastly smaller than the problem. It's just not worth the cost." (Read Four Steps to Ending the Foreclosure Crisis...
...ratchet higher in the next few years if the recession drags on. The government could mitigate its losses by only lending to people with high credit ratings. But even high quality borrowers will default at higher rates in a down economy. At a 3% default rate, the plan could cost the government as much as $25 billion a year. And that's only if 10-year Treasury rates remain at 2.7%. A year ago, the government bonds yielded 4%. At those levels, the 4.5% mortgage plan would cost nearly $50 billion a year. Treasury officials declined to comment on these...
What's more, the Treasury's proposed program would only make the low-cost mortgages available to people making new home purchases. That would do little to help people who are already behind on their mortgage, or at risk of facing foreclosure. And many economists argue housing prices won't stop falling until foreclosure rates come down. On Thursday, Federal Reserve Chairman Ben Bernanke said that he thinks the government should do more to stop foreclosures. He named a number of possible programs, including a plan floated a few weeks ago by Sheila Bair, who heads the Federal Deposit Insurance...
...Developing] countries are poor compared to the United States and other highly developed countries, and so in addition to thinking about it in terms of efficiency or cost effectiveness, there’s an issue of distributional equity,” Stavins said. “And also, you could say it’s our responsibility for what’s already up there, because of our own process of industrialization...