Word: crediteers
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...income. By the roaring '80s the rate was 4%; now we're in negative numbers. Bob Hope liked to joke that "a bank is a place that will lend you money if you can prove that you don't need it." But that too changed as easy credit bloomed and usury became another of those vices that had somehow lost its juice. The average American has nine credit cards with a total $17,000 balance. We borrow against our houses and pensions to live in a way that dares us to actually grow old. "Never invest in any idea...
...most relevant to the current Wall Street subprime crisis is the Green Tree Financial Corp. debacle. The firm made trailer-home ownership more accessible to low- and middle-income consumers. At its pinnacle, the company financed more than 40% of trailer homes, many with mortgages for people with bad credit. In 1998, Green Tree was bought by Conseco for a hefty $7.6 billion; by 2002, Conseco had declared bankruptcy. "Green Tree was a house of cards, built on financial engineering that could not withstand the test of time," write the authors. It was the third largest bankruptcy in U.S. history...
Harvard students who participate in ROTC do so through MIT but do not receive any academic credit at Harvard...
...market will tend to raise costs, reduce the generosity of benefits, and leave people with fewer consumer protections,” the study found. The group focused on McCain’s proposals to introduce a tax on insurance premiums paid by employers, to institute an individual refundable tax credit, and to move toward allowing intra-state policy purchases. The authors wrote that they felt Obama’s health care plan had been scrutinized during the primary season but McCain’s had not been subjected to academic review. “Obama’s plan...
...This rivalry is too heated for us to just expect to come in and win,” Brown coach Felix Mercado said. “You’ve got to give Harvard all the credit in the world...