Word: greater
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...greater concern to many analysts is the pending expiration of the Federal Reserve program, which involved purchasing up to $1.25 trillion in mortgage securities backed by Fannie Mae and Freddie Mac. It could open the door to higher interest rates, although the Fed last week hinted that it would keep its benchmark rate near zero for the foreseeable future - a comment likely aimed at preventing panic. (See how Americans are spending...
Also, up to $14 billion of TARP funds will be used to provide subsidies to lenders and loan servicers who agree to write down at least 10% of a first mortgage; the combined value of first and second mortgages can be no greater than 115% of the current value of the home. The new monthly payment cannot exceed 31% of the homeowner's income. Investors in the loans would clearly take the up-front hit, but the risk of future default on the modified loan would be transferred to the government...
...That means it is an unusually bad time to be a gorilla. A new U.N. report warns that most of the remaining gorillas in Africa could go extinct within 10 to 15 years in the Greater Congo Basin, the swath of forest and savanna that stretches from Africa's Atlantic coast across the Democratic Republic of Congo (DRC) to Rwanda and Uganda in the east. (See pictures of species near extinction...
...clever securitization schemes and subprime mortgages that harm lower-income Americans and pension funds while risking the stability of the economy as a whole. The Senate bill currently has a CFPA under the purview of the Federal Reserve Bank, however the creation of an independent agency would give it greater stature and thus the power and influence to adequately...
Officials in the church staunchly continue to defend the Pope. They say Benedict has pushed for far greater transparency and penitence than his predecessor, and certainly more than many of the local bishops who should have been the ones managing the individual cases. And so far, each new revelation from Ratzinger's past seems to show more administrative detachment than bad judgment from the future Pope - though that is still a surprising hands-off management style for the man who would earn a reputation as a micromanager as he rose to become the éminence grise in John Paul...