Word: moneyitis
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This kind of activity - flushing out low-rent tenants and replacing them with wealthier new renters - has been a staple of strong real estate markets for years. What was different over the past few years was how widespread this Dickensian business model had become, largely fueled by Wall Street money seeking high rates of return. Another difference was how much the general investing public - through university endowments and pension funds - became party to such morally dubious schemes. Consider it another footnote to the Gilded Age we just passed through. (See pictures of Americans in their homes...
When Massachusetts Republican Scott Brown started his campaign to fill Edward Kennedy's U.S. Senate seat with few backers and comparatively little money, few people expected him to win - or even come close. But thanks to his promise to use his crucial vote to block the Democrats' congressional health care reform bill, he has gained the support of conservative special-interest groups and beat Democratic opponent Martha Coakley in the Jan. 19 special election. This is big news in Massachusetts - and Washington. A Brown victory - for the seat of liberal lion and health care reform champion Ted Kennedy, no less...
...Married to Gail Huff, a news reporter on ABC's Boston affiliate WCVB. The couple met at a state-regulatory-board meeting, where they were attempting to recover money from modeling agents who hadn't paid them. They now have two daughters, Ayla and Arianna. Ayla is a former American Idol contestant...
...Some of the expenses have been shouldered by other parts of China. Twenty provinces have set aside 1% of fiscal revenues for two years to help rebuild Sichuan. That's another advantage that China has over Haiti. As a large nation with a rapidly growing economy, it can divert money from more prosperous areas to aid one devastated region...
...women faced fines from $50 to $500 for such infractions as sitting idle when there was housework to be done or talking to repairmen. To an extent, the situation was state-subsidized: some women claimed state benefits as stay-at-home, single parents. Others, however, worked outside, earning money for the family kitty. But not everyone was happy. Days before his arrest, Ratzon reportedly took one of his "wives" to the hospital because she was suffering from an overdose of antidepressants. (See the top 10 religion stories...