Word: crediteers
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...threatening to decimate high-cost motor sports. For example Formula One, the world's most popular auto-racing circuit, is facing its biggest crisis in 40 years, according to Max Mosley, president of the sport's governing body. He compares F1's status to the global housing and credit bubbles. And since Honda, which had spent about $300 million annually on Formula One, decided to pull out of the sport altogether, F1 has blown a tire. (See pictures of car art by Warhol, Calder and more...
...hope for an amicable solution.' PAUL COLFORD, Associated Press director of media relations, after the AP declared that it owns the copyright--and deserves credit and compensation--for the image used by graphic artist Shepard Fairey in his iconic portrait of Barack Obama...
Ideas aimed at kick-starting this process include giving everyone who buys a house a tax credit worth 10% of the purchase price and driving down mortgage rates--perhaps to as low as 4%. They're an effort to push fence sitters off their perch and give a head start to folks who are finding that tighter lending standards mean they can't borrow as much as they might once have...
...some ways, proposals to stimulate the housing market aren't really aimed at bringing in new buyers. Extending tax credits to people selling one home to buy another and letting homeowners use cheap mortgages to refinance won't get rid of excess housing inventory. These policies are meant to do something else: stimulate the economy by delivering money to homeowners. "We could tell everyone you can get a credit card at a rate of 6%, and that would put money in people's pockets too," says Dean Baker, a co-director of the Center for Economic and Policy Research. Call...
...that's a matter of scale--that it's impossible to be moved by something in a 4-in. (10 cm) video window. I'm not so sure. Hunched over my tiny screens lately, I've found myself riveted by Battlestar Galactica, provoked by a YouTube animation about the credit crisis and verklempt over an old video I posted of my son blowing bubbles in the bathtub. Big screen and tiny may have their differences, but where there's engagement, there's emotion. The screen that matters most is still the one where the story lingers and replays, inside your...