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...Chase spokesman Tom Kelly. "We're not really equipped to be landlords." Lenders are sitting on nearly half a million repossessed houses nationwide, but getting rid of them quickly, even if that means taking a hit on price, seems to be the preferred response. A recent presentation by the head of Chase's retail-financial-services division showed that the company's servicing portfolio went from having about 52,000 repossessed homes in September 2008 to some 30,000 in September 2009. Over that period, the average price at which the firm sold houses from that stock dropped from...
...about what that meant. The massacre at Fort Hood was, depending on whom you believed, yet another horrific workplace shooting by a nutcase who suddenly snapped, or it was an intimate act of war, a plot that can't be foiled because it is hatched inside a fanatic's head and leaves no trail until it is left in blood. In their first response, officials betrayed an eagerness to assume it was the first; the more we learn, the more we have cause to fear it was the second, a new battlefield where our old weapons don't work very...
...longstanding deadly rivalries and the ever present threat of violence have made Lebanese politicians wary of acting unilaterally, which is why Hariri invited Hizballah and its allies into the Cabinet in the first place. And Hariri is increasingly isolated, with none of his allies being prepared to confront Hizballah head-on given the experience of the May 2008 mini-civil...
Karel Lannoo, head of the Center for European Policy Studies in Brussels, hopes that's true, but says a Tory win and an anti-E.U. drive in Britain is "the biggest source of concern and discussion within Europe today." Indeed, Lannoo says that the ambient buzz "may be what [Lellouche] found himself echoing, however undiplomatically." Given the likelihood of a Tory win, however, it may not be the last time Lellouche feels moved to address the issue - and next time, he may not be alone in doing...
...President Barack Obama, who is just a week away from his first visit to South Korea as head of state, needed a reminder of just how tense the Korean peninsula remains, he got one on Tuesday. For the third time in the past decade, the North and South Korean navies exchanged fire in disputed waters in the Yellow Sea, off the peninsula's west coast. According to the South Korean joint chiefs of staff, a North Korean gunboat ventured about a mile into what Seoul claims is its territorial waters. The South Koreans issued verbal warnings and then fired warning...