Word: defaultations
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...ways they want to do them. They don't worry too much about breaking rules and aren't paralyzed by a fear of imperfection or even failure. Active citizenship is all about tapping into one's amateur spirit. "But hold on," you say. "I will never understand credit-default swaps or know how to determine the correct leverage ratio for banks." Me neither, and I don't want to depend on an amateur physician telling me how to manage my health. But we can trust our reality-based hunches about fishy-looking procedures and unsustainable projects and demand that...
...already massive. When the value of a house is less than its mortgage, a homeowner can't sell and pay off his debt. If a house becomes unaffordable - because of job loss, say, or an adjusting mortgage interest rate - the homeowner is trapped. Underwater borrowers are more likely to default on their mortgages than those with positive equity. (See a chart showing metropolitan areas with the highest percentage of underwater borrowers...
...finding about the large percentage of loans that "self-cure" indicates that servicers might actually be smart to delay rewriting many loans, since chances are they won't ultimately lead to foreclosure anyway. On top of that, servicers charge substantial penalty fees when loans are in delinquency or default - a source of revenue that goes away if a homeowner gets back on track...
...Banks' company $5,000 for its 20 copies, says one Western diplomat; in theory, Liberian courts must do the same. The U.N. panel believes the firm's "grounds for claiming copyright are questionable and ethically dubious." Little wonder that Johnson Sirleaf struggles. "The President's default position is to do the right thing," says the diplomat. "When she makes the wrong decision - and it does happen - it is because the local political pressure is overwhelming...
...talent - actually, his only talent - is to bring out the worst in other people. And Brüno's basic m.o., like Borat's, is to go into the world with a camera to bewilder and infuriate people, never failing to prove that anger and stupidity are the permanent default modes of the human brain...