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...Easy Answers A program as progressive as wellspring's is bound to have some kinks. Like most other weight-loss programs, Wellspring is not covered by any health insurance plan. Many families find themselves taking out loans to pay the $6,250-per-month tuition. "A lot of parents use their kids' college money," says Craig. Its prohibitively high cost makes the place inaccessible to many Americans who could benefit, especially since the highest obesity rates are found in low-income areas. But Wellspring kids are far from wealthy. Fedorchalk's mother and father, who work at a nursing home...
President Barack Obama announced $8.3 billion in federal loan guarantees for the construction of two nuclear reactors at a plant in Georgia. It is the first new nuclear project to be green-lighted in the U.S. since the 1980s. Once online, sometime in 2017, the reactors will generate power for 1.4 million people. While most hailed the move--the White House said the reactors will prevent the emission of 16 million tons of carbon dioxide each year--critics say safety standards for storing the plant's radioactive waste need to be improved...
...recent report by the Congressional Oversight Panel chaired by Harvard Law School professor Elizabeth Warren predicts a wave of commercial real estate loan failures that could jeopardize the stability of many banks, particularly mid-size and smaller banks...
...Over the next four years, a wave of commercial real estate loan failures will add to the pressures on the struggling American economy,” said panel spokesman Peter Jackson. “$1.4 trillion in loans will come up for refinancing between...
Furthermore, the Federal Government's big loan-modification effort - abbreviated as HAMP - does little to help such borrowers since in many cases lenders will recoup more by foreclosing (the test any loan modification must pass). A recent Bank of America Merrill Lynch study of loan modifications at IndyMac, which provided the template for broader modification efforts, found that about 20% of subprime loans had been rewritten, while fewer than 8% of option ARMs got reloaded. (See pictures of TIME's Wall Street covers...