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...back to where the subprime market started out 25 years ago," says Inside Mortgage Finance's publisher, Guy Cecala. "If you can't put 30% down on your house, you're not going to get a loan...
...there are fears that Europe could retaliate. The European Commission has warned that it would react sternly to any evidence of American protectionism favoring Boeing in the Pentagon bidding process. And British Business Secretary Peter Mandelson hinted that "the open market to U.S. producers we have in Europe" could be affected if the European Union felt that Americans were refusing to extend similar freedoms to their companies in return. Even some American observers groused that the EADS offer was clearly superior to Boeing's revised bid. U.S. Senator Richard Shelby, a Republican from Alabama, said that "the Air Force...
...disappointed that Northrop is not competing." He added that neither the decision by EADS and Northrop Grumman to drop out of the competition nor the fallout from it changes "the Defense Department's commitment to transatlantic defense ties." (Read "For the Arms Industry, India Is a Hot Market...
...today the African elephant stands on a precipice once again. The nations of Tanzania and Zambia are petitioning CITES, which begins a major meeting in Doha on March 13, to "downlist" the conservation status of elephants so that they can sell stockpiled ivory on the open market - ivory they say comes from elephants that have died naturally or was seized from illegal poachers. But conservationists argue that over the past decade illegal poaching has risen steadily, and if the elephant is downlisted in some African nations it could have a devastating impact for the species as a whole. Nothing less...
...white gold continued to rise. And ivory-trade regulation in the U.S. is confusing and full of holes - ivory was even being traded on eBay until the Internet vendor shut down the sale of it recently. "The data shows that the U.S. is the second largest retail ivory market in the world," says Todd. "It's hard for consumers to know what is legal and what...