Word: prudent
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...France's real estate values, no lender would grant credit to an applicant with more than a 33% debt-to-income level. French banks have also always favored fixed-rate mortgages over more enticing but perilous variable-rate loans. The French real estate market is slowing, but the more prudent approach of French banks lessens the prospect of foreclosures, which have haunted millions in the U.S. and are one major origin of the current crisis. That's hardly a reason for smugness, either, though, since there's scant evidence that enlightened domestic practices in France or anywhere else can ward...
...paying the price for Wall Street's excesses. Some of the cost is being paid by prudent people, like retirees who have saved all their life. They're now getting ridiculously low rates of 2% or so on their savings because the Federal Reserve has cut short-term rates in an attempt to goose the economy and reassure financial markets. Taxpayers are going to get stuck too. By the estimate of William Poole, former head of the St. Louis Fed, bailing out the creditors of the two big mortgage firms, Fannie Mae and Freddie Mac, could cost taxpayers $300 billion...
...Petraeus would be expected to "slow-roll the withdrawal" if he were to remain in charge of Iraq only. "But given that he knows that he is going to assume responsibility for Afghanistan as well, it indicates the gains in Iraq really are fragile and this is probably a prudent decision." But Nagl, now with the Center for a New American Security in Washington, is still puzzled by the decision. "I would not say we are winning the war in Afghanistan, so we're in a tough position," he said. "Frankly, I'm a little surprised - I thought we were...
...only remaining piece in the consolidation of the German commercial banking sector is Deutsche Postbank, the former banking arm of the government post and telecommunications monopoly. Its owner, Deutsche Post, itself still controlled by a large government shareholding, wants to sell. Until now, a sale to Commerzbank was considered prudent, but the newly enlarged bank is unlikely to be interested, analysts...
...teaching by the Dalai Lama at New York City's Radio City Music Hall, a group of 500 or more audience members screamed at and spat at a mixed group of about 100 people, both Tibetan and Western, who had been peacefully protesting the high lama. Police felt it prudent to move in fast, with horses, and herded the smaller group into buses for their own protection. The pro-Dalai Lama crowd had also flung money at their foes, an insult indicating that they had been bought (presumably by the high lama's enemies in Beijing). Said...