Word: paper
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...homeowners who stop paying their mortgage may be doing so intentionally, not because they can't make the payments but because they don't want to put money into a house that's worth less than what they owe. That finding, from a paper by economists at the University of Chicago, Northwestern University and the European University Institute, raises some doubt about the approach the Obama Administration has taken toward stabilizing the housing market. The current approach focuses on whether or not homeowners can afford their monthly payments, and largely ignores the fact that some 20% of homeowners owe more...
...paper's authors caution that their statistics are not exact and should be taken primarily as an indication that there is a looming problem, one that needs to be addressed. The 26% figure comes from a series of consumer surveys that feed into the Booth Chicago/Kellogg School Financial Trust Index. In December 2008 and again in March 2009, 1,000 people were surveyed and asked, among other things, if they knew anyone who had defaulted on a mortgage, and if they knew anyone who had defaulted on a mortgage even if he or she could afford to make the monthly...
What's behind the weight gain? Gordon-Larsen and the paper's lead author, Natalie The, have their theories after questioning 1,293 couples for a separate part of the study. Mealtime may become more important than it was when the people were living alone. Gym memberships may not get the same workouts they did before nuptials. And maybe, after months of prepping to squeeze into crinolined and cummerbunded finery, couples just let themselves go. (Watch TIME's video "How to Lose Hundreds of Pounds...
Larry Summers, now the top economic adviser in the Obama White House, was a proponent of such taxes in the 1980s and early 1990s. There's no hint of them in the Administration's 88-page white paper on financial regulation. There is talk of higher capital requirements, tougher consumer-protection standards and new rules for derivatives. But taken as a whole, the document sketches a regulatory approach that still relies heavily on judgment and smarts. Maybe it's time for some dumbing down...
...dated. Vogue put Michelle Obama on its March cover partly because, as its Editor-in-Chief Anna Wintour commented, “She believes, as we do at Vogue, that to be an independent, working woman doesn't mean that you have to walk around with a brown paper bag on.” But, perhaps it’s not as dated as we think. A recent Ewha graduate who served as president of the Harvard College in Asia Program in Korea told me of her time at the school, “I had a hard time because...