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...Given the enormity of the problem," says Albritton, "we wanted to jointly organize ourselves even further to try and accelerate" the process. Says Steven Ibison, FBI special agent in charge in Tampa, "We're using resources that normally would be addressing other threats in order to surge this." Part of the strategy is to proceed in three "waves" that move "as high up the ladder" as possible, says Ibison: to collar not just the buyers who lied on loan applications, or brokers who ushered those shams along, but also the banks and lenders who looked the other way or actively...

Author: /time Magazine | Title: Mortgage-Fraud Crackdown Gathers Steam in Florida | 4/18/2009 | See Source »

...rushing to embrace a new agreement. According to Harley Shaiken, a labor expert at the University of California at Berkley and occasional consultant to the UAW, the union and its Canadian counterpart are grappling with demands for big cuts in their wages and benefits - on the order of 25% to 30% - by Chrysler and Fiat. The demanded rollbacks could reduce wages and benefits, presently pegged at $29 per hour, by $6 to $8 per hour. "There is no doubt these are very serious cuts and they're being made under very tight deadlines and under very serious pressure," Shaiken says...

Author: /time Magazine | Title: The UAW and Chrysler: a Lose-Lose Situation | 4/17/2009 | See Source »

...Higher order human emotions, such as compassion and admiration, are often cataloged as artifacts of culture. But a small new study that relies on scans of the brain suggests the opposite: these feelings are rooted deep within the brain, where basic traits like anger and fear reside...

Author: /time Magazine | Title: Study: Admiration Rooted in the Brain | 4/17/2009 | See Source »

...reflected somewhere in the city’s money.”Cambridge officials are currently working on the city budget for fiscal year 2010, which will soon be presented to the City Council. However, Seidel said that the budget will probably need to be revised in order to factor in these new local aid cuts.City Spokesperson Ini Tomeu said that there have not yet been meetings about Wednesday’s House budget, but that budget hearings will take place soon.Beside cutting local aid, the state budget will impact a wide range of state programs and services. The budget...

Author: By Liyun Jin, CRIMSON STAFF WRITER | Title: Mass. House May Cut Local Aid | 4/17/2009 | See Source »

...cuts came after MIT announced that its Department of Athletics, Physical Education, and Recreation would have to reduce its spending over the next three years by $1.45 million. Its current annual budget is $12.9 million. MIT athletic officials are currently meeting with student athletes, coaches and interested alumni in order to decide which five to eight teams will be removed from the varsity program. Both Harvard and its neighbor downriver currently have 41 varsity sports teams—tied for most in the National Collegiate Athletic Association. With its recent announcement, MIT—which already cut junior varsity programs...

Author: By Alex Sopko, CONTRIBUTING WRITER | Title: MIT To Cut Several Athletic Programs | 4/17/2009 | See Source »

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