Word: floridas
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...face "unprecedented fiscal challenges," over the next 18 months. The report also noted that this was the first time Moody's analysts were broadly worried about the ability of local governments to pay back their debts. Among the places Moody's finds to be most troubled are cities in Florida and California, because of the real estate bust, Indiana, Michigan and Ohio, which are being hurt by the drop in manufacturing, and Connecticut, New Jersey and New York, due to the financial crisis...
...When a group of J.P. Morgan bankers conceived credit default swaps 19 years ago at the Boca Raton Resort & Club in Florida, they could not have imagined what a monster they had unleashed. In 2007, the credit default swaps market value was $62 trillion, more than quadruple the entire U.S. gross domestic product...
...Soon after tugboats pushed the Maersk Alabama into port, crew members appeared at the stern of the ship to praise Capt. Richard Phillips. "He saved our lives!" said one man, identified by The Associated Press as second mate Ken Quinn, of Bradenton, Florida. "He's a hero." Another, who identified himself as ATM Reza, said that he had persuaded one pirate to go to the engine room, where he overpowered the pirate, stabbing him in the hand and tying him up. (Photographer Jehad Nga offers a rare glimpse of the men who plunder the east coast of Africa...
...another: "We're all doing better now... all excited about the captain being free." Indeed, soon after tugboats pushed the Maersk Alabama into port, crew members began to praise Phillips. "He saved our lives!" said one man, identified by The Associated Press as second mate Ken Quinn, of Bradenton, Florida. "He's a hero." Another, who identified himself as ATM Reza, said that he had persuaded one pirate to go to the engine room, where he overpowered the pirate, stabbing him in the hand and tying him up. (Photographer Jehad Nga offers a rare glimpse of the men who plunder...
...rate, their number would be halved in five years. Because the drop-off predated the worst of the recession, the report argued, the decline showed that the get-tough policies passed at the end of the Bush Administration were working. Members of Congress like Republican Representative Tom Feeney of Florida were on hand for a press conference with the report's authors. He celebrated the end of "perverse incentives" that had kept illegal immigrants in the U.S. "Obviously," Feeney said, "illegals are getting the message." (Watch TIME's video "Blocking the Border Fence...