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...biggest reason for the change in customers' credit behavior has to do with falling housing prices. For a long time, a house was the largest asset of most people. But according to a recent study from housing-value tracker Zillow.com, about 20% of all homeowners are now underwater on their mortgage, meaning they owe more than their house is worth. With housing prices still falling, many see little value in holding on to their home. In fact, some mortgage experts have recommended that individuals walk away from their home loan, repair their credit and start again. (See the worst business...
...25th Academy Awards, several of its primary financial supporters unexpectedly backed out.The Academy needed to secure another sponsor, or else to cancel the extravagance they’d planned. Just in time, RCA purchased the rights to broadcast the ceremony, and it was watched on NBC by the largest audience in the history of television at that time...
...battle against the Taliban intensified recently when NATO and Afghan forces launched the largest offensive since the U.S.-led invasion of Afghanistan more than eight years ago. Fifteen thousand NATO and Afghan troops laid siege to the Taliban stronghold of Marjah. The center of Helmand province's opium-poppy trade, a major source of Taliban funds, Marjah had long been a no-go area for NATO troops. At the same time, in the Pakistani port of Karachi, a raid on a seminary by CIA and Pakistani intelligence agents netted Mullah Abdul Ghani Baradar, the Taliban's military commander...
...Chile's second largest city, Concepción, the army has issued a "silence" order on some urban blocks so rescue workers can hear the possible tapping of survivors under the rubble of the massive 8.8-magnitude earthquake that hit the country on Feb. 27. The quake may be, as Chilean President Michelle Bachelet said on Sunday, "an emergency unparalleled" in the country's history. But the death toll - fewer than 1,000 so far, despite the quake's being one of the strongest ever recorded - is a tribute to Chile's remarkable preparation and response...
After co-captain Jeremy Lin missed a free throw, the rebound found its way to Curry for a smooth triple. Several possessions later, Webster threw a long pass to Curry on the left wing for another three, which put the Crimson up by 14—its largest lead up to that point...