Word: creditable
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Some dealers thought credit [worthiness] could be an issue, but customers cashing in on the program seemed to have no trouble finding financing. What happened? For one thing, the CFC incentive was used as all or part of the consumers' down payment, automatically increasing loan-approval rates - the bigger the down payment, the higher the approval rates for car loans, everything else being equal. The $4,500 incentive sometimes was doubled by manufacturer incentives. Even if you have less-than-perfect credit, if you put $9,000 down on a $25,000 vehicle, you have a good chance of getting...
...major part of international climate-change policy, but delegates at the U.N. global-warming summit in Copenhagen that will convene in December could change all that. By putting a greater carbon value on trees planted on farmland through a cap-and-trade program that would give companies a carbon credit for growing and maintaining trees, we could encourage the growth of agroforestry. It's not a perfect compensation for continued deforestation - whole, virgin rain forests have an enormous ecological value that can't be replicated by agroforestry - but it's a realistic fallback. "This is a win-win investment opportunity...
...last year's deficit - and it accounts for 11.2% of GDP, the largest percentage since 1945. It's more money than we have circulating in actual currency and if added to the national debt, it will raise the tally by 13%. (To understand debt vs. deficit, think of a credit card: debt is the outstanding balance on the card while the deficit is the amount added each fiscal year.) At this rate, the Administration estimates that the U.S. could face a cumulative $9 trillion in deficits over the next decade - $2 trillion more than previously thought. (Read "How to Understand...
...Panic, David Wessel details how Bernanke essentially turned himself into a fourth branch of government, exploiting a loophole in a 1932 law that gave the Fed wide latitude in "unusual and exigent circumstances" to become a virtual economic commander in chief, dropping several trillion dollars into the nation's credit jet stream without presidential or congressional input, inaugurating all kinds of unprecedented programs with obscure acronyms. His motto, Wessel writes, was "whatever it takes...
...study by two Cambridge University professors, J.M. Coates and J. Herbert, who sampled the testosterone levels of London traders and found they positively correlated with high-profit trading days. Of course, nobody harped on this research back when housing prices were doubling and people were using their home-equity credit lines to buy third cars. But to paraphrase Richard Nixon's comment about Keynesians, we are all feminists...