Word: legalism
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...with a third-party servicer in charge of collecting payments--that's not happening. "Servicers don't have the right incentives," says Christopher Mayer, professor of real estate at Columbia University's Business School. Cutting them a check in return for a modification of the loan, or trumpeting their legal authority to do so, is meant to prime the mortgage-rewriting pump, as is letting bankruptcy judges revise mortgages...
...costs. Among other drawbacks, critics say, the move could mean fewer scholarships, larger classes and teacher layoffs. But race is the thorniest issue by far. "We've made tremendous progress in Georgia," says Harp. "I just think it's the right time to get rid of this vestige of legal segregation." (See pictures of a diverse group of American teens...
...Peters repeatedly warned administrators to give no guidance on whether to accept the package, no matter how deeply they suspected that a staffer would be laid off after the early retirement window closed. According to Peters, any guidance suggesting knowledge of future employment status could pose legal problems for the University, because "then the entire program could be seen as involuntary...
...School Dean Elena Kagan came one step closer to confirmation as the nation’s top representative to the Supreme Court yesterday, coasting through questions about her scant court experience and legal writings from senators who must approve her nomination...
...While rising crime rates contribute to a continually growing prison population, the current capacity issue is also a product of problems in our legal system and our conception of punishment. The legal system is designed to penalize those who commit crimes and to decrease the likelihood of persons committing subsequent crimes—for many offenses, the focus should not be on punishment, but on rehabilitation and preventive measures...