Word: economice
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"We're identifying lending-industry situations in FICO Score Trends that to our knowledge have never been seen before," said Mark Greene, CEO of FICO, in the report. "Economic instability is creating unknown risk in lenders' credit portfolios as well as counter-intuitive trends in consumer behavior."
To be fair, Haiti has had far less experience with earthquakes, and therefore earthquake preparedness, than Chile has. (Before Jan. 12, the last major quake to hit Port-au-Prince was in 1751.) There will, of course, be the apologists who insist it's unfair to compare a basket case...
Wrong. It's the other way around: Chile is more developed because it's doing things right. The same goes for Brazil, Uruguay, Costa Rica and a handful of other Latin American and Caribbean nations that have decided in the 21st century to stop running their societies like medieval fiefdoms...
Granted, Haiti, a republic founded by former slaves who won their independence from France in 1801, has long been at a disadvantage thanks to lingering discrimination in the hemisphere and the world. (The U.S. wouldn't recognize Haiti until 1862, and Nicolas Sarkozy's visit there two weeks ago was...
Ricardo Zapata, a disaster-evaluation chief for the Santiago-based Economic Commission on Latin America and the Caribbean (ECLAC), cites three levels of damage in the Chile quake. The first was the collapse of older, pre-1960 buildings, many of which were further damaged because they were constructed too close...