Word: programer
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About two dozen firms that led the country into the subprime debacle are now lined up to receive billions of taxpayer dollars through a federal program aimed at stemming foreclosures, according to a report released Wednesday...
...report, issued by Washington's Center for Public Integrity, found that at least 21 of the top 25 firms taking part in the Home Affordable Modification Program, or HAMP, were heavily involved in the frenzied lending that led to the subprime blowup. The firms originated or serviced subprime loans, or both. (See which businesses are bucking the recession...
...Under the Treasury Department's program, up to $75 billion will be spent in an effort to prevent as many as 9 million people from losing their homes. "Much of this money is going directly to the same financial institutions that helped create the subprime-mortgage mess in the first place," said Bill Buzenberg, executive director of the Center for Public Integrity, in a statement...
...Others expected to cash in through the program are JPMorgan Chase, which could collect up to $3.4 billion when its EMC Mortgage subsidiary is included, and Wells Fargo, which could get up to $3.1 billion when its Wachovia subsidiaries are included, the report said. Even a former subsidiary of Lehman Brothers, which helped underwrite the subprime toxic loans, is bellying up to the bar, the report said. (See high-end homes that won't sell...
...southwestern Guizhou province-a community of blue skies, grape trellises, freshly painted houses and colorful sprays of drying peppers hanging from doorways. Where China's industrial wastelands symbolize its present and past, Baigong may be a tiny herald of the future: its streetlights are solar-powered under a program by Li's One Foundation and the nonprofit Climate Group, which Blair helped launch. "If all Chinese cities had these, we could save a lot of power," said Li. "And also provide a lot of employment," chimed in Blair.(See "10 Next Generation Green Techologies...