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Best Michael-is-a-Real-Jerk Moment
Unlike similar legal fields such as bankruptcy, foreclosure is rarely a full-time practice and is often handled by real estate attorneys or legal-aid-services agencies. Still, more than 3 million property foreclosures were filed in the U.S. last year; South Florida is expected to see more than 150,000 this year, compared to fewer than 25,000 three years ago. And while mortgage modifications had been on the upswing in recent months, the Boston-based National Consumer Law Center reported this week that many large banks and other mortgage servicers have decided it's cheaper to foreclose than...
...China," adding that the current loose monetary policy should shift to neutral. On Thursday, Hong Kong's Hang Seng Index dropped by 0.5% and the Shanghai Composite Index fell 0.6% on concerns that China would begin to tighten monetary policy in response to fears of expanding bubbles in real estate and financial markets. (See pictures of China's infrastructure boom...
...biggest challenge for the authorities is that the private sector has yet to fully recover. This makes it difficult to tighten early," Ben Simpfendorfer, a Hong Kong-based China economist for RBS, wrote in a research note. "It also funnels money into equity and housing rather than the real economy. The temptation will be to leave policy too loose, for too long, resulting in another asset price bubble...
...Question Time ate itself, turning into a debate about Question Time. The real issue has never been whether Griffin and his ilk should be allowed to join the show's panel. The fundamental problem is how the mainstream parties can reconnect with the electorate and assuage their fury. With British parliamentary elections due by June 2010, party tacticians may be tempted to borrow from the BNP's populist playbook, talking tough on immigration and integration. Such rhetoric often proves a vote winner. But exploiting voters' discontent can simply stoke it. Until mainstream parties figure out how to earn back public...