Word: normalization
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Dates: during 2000-2009
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...housing market, stupid." That's what an increasing number of policymakers and economists are saying as they push for widespread mortgage modifications as a way to address a root cause of the financial crisis. With more than 1.5 million houses in foreclosure (three times the normal rate) and about 3.5 million other homeowners behind on mortgage payments, the idea of rewriting loan terms has broad appeal. As advocates contend, homeowners will keep their houses, and lenders as well as investors in mortgage-related securities will recoup more money than is typically netted in a foreclosure. As a bonus, property prices...
...HHPR editor described the event as a “breakdown in our normal process, or at least what should be our normal process...
...normal times, a French President's call for an overhaul of the world's financial system would cause eye-rolling and dyspepsia among the world's free market purists. But these are not normal times: on the weekend, U.S. President George W. Bush echoed Nicolas Sarkozy's push for an international summit to that end, and on Monday world markets seemed to endorse the initiative with a positive fillip. Though the specific goals, attendees, and even exact date and venue of such a meeting have yet to be determined, the mere agreement by U.S. and European leaders to update...
...interest rates. After the collapse of the tech bubble, the economy needed a stimulus. But the Bush tax cuts didn't provide much stimulus to the economy. This put the burden of keeping the economy going on the Fed, and it responded by flooding the economy with liquidity. Under normal circumstances, it's fine to have money sloshing around in the system, since that helps the economy grow. But the economy had already overinvested, and so the extra money wasn't put to productive use. Low interest rates and easy access to funds encouraged reckless lending, the infamous interest-only...
...screened twice at the HFA, and other screenings in the festival took place at the Museum of Fine Arts, the Coolidge Corner Theater, Northeastern University, and Boston College. This was the first year that Harvard participated in the festival, incorporating some of the pieces into the normal HFA programming. David Pendleton, programmer at the HFA, says that Aljafari is an important young filmmaker. When asked about the particular strengths of the selection for the film festival, he said, “One of the most striking aspects of ‘The Roof’ is the important sense...