Word: paces
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Working at a furious pace, Obama's team has racked up by almost any measure one of the most successful early records in modern memory, especially if you focus on big scoreboard numbers and not the detailed stats. But each of his team's major accomplishments - from the stimulus to the House energy bill to the health-care-reform proposals now making their way through Congress - has been just as notable for what Obama has agreed to give up during the negotiation process. (See TIME's video "The Story of an Uninsured Woman...
...February, the Obama Administration said it would pay mortgage-servicing companies to modify existing home loans to make them more affordable - an attempt to keep struggling borrowers in their houses and slow the escalating pace of foreclosures. In a way, the problem was an odd one. Lenders lose a lot of money during foreclosures and shouldn't need incentives to prevent them. The complexities of mortgage securities and the uncertainty surrounding future home prices and the economy, it seemed, were gumming up the system. A government push would get the wheels moving...
...What accounts for the disappointing pace? According to Treasury and HUD, servicers aren't spending enough money or energy to make the program work. Treasury and HUD want the companies to add more staff, expand their call centers, train their representatives better, put more information online and create a system for dissatisfied borrowers to appeal their cases. To shame the firms into better participation, the government said that in August it will start revealing the number of modifications at each company and the long-term success of those rewrites...
...ABOARD A U.S. MILITARY AIRPLANE) - U.S. Defense Secretary Robert Gates said Wednesday he sees "some chance of a modest acceleration" in the pace of U.S. troop withdrawal from Iraq...
Gates told reporters "there is at least some chance of a modest acceleration" in the pace of U.S. troop withdrawal...