Word: recentering
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Dates: during 2000-2009
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...lending business," says Chase spokesman Tom Kelly. "We're not really equipped to be landlords." Lenders are sitting on nearly half a million repossessed houses nationwide, but getting rid of them quickly, even if that means taking a hit on price, seems to be the preferred response. A recent presentation by the head of Chase's retail-financial-services division showed that the company's servicing portfolio went from having about 52,000 repossessed homes in September 2008 to some 30,000 in September 2009. Over that period, the average price at which the firm sold houses from that stock...
...none of that means rent-backs won't eventually take off. There are plenty of examples in the recent past of housing policies starting at the federal housing agencies and later expanding industry-wide thanks to strong-arming from some combination of the Obama Administration and Congress. Loan modifications are the quintessential example. Perhaps one more relevant bit here is the law that was passed earlier this year requiring banks that repossess houses to honor the terms of existing leases (i.e., to not immediately kick out any existing renters). Fannie Mae already had such a policy in place. Over...
...theorists, who posit ideas about the origins and workings of the universe; and experimentalists, who design telescopes and particle accelerators to test these theories, or provide new data from which novel theories can emerge. Most experimentalists believe that the theorists, due to a lack of new data in recent years, have reached a roadblock - the Standard Model, which is the closest thing the theorists have to an evidence-backed "theory of everything," provides only an incomplete explanation of the universe. Until theorists get further data and evidence to move forward, the experimentalists believe, they end up simply making wild guesses...
Swipes across the English Channel are as old - and often as nasty - as the centuries-old Franco-British rivalry itself. But few barbs have caused as much annoyed bewilderment as the recent remarks by the French Minister of State for European Affairs, Pierre Lellouche, who called officials from the British Conservative Party "pathetic" and "autistic" and said they were guilty of having "castrated" Britain's influence in Europe. Good thing Lellouche is known as a staunch Anglophile, or he might have really gotten ornery...
...city blocks are not uncommon and even major incidents are not unheard of. A similar four-hour outage in 1999 left 60 million Brazilians in the dark. Computer hackers caused blackouts in parts of Espirito Santo and Rio de Janeiro states in 2005 and 2007, according to a recent and unconfirmed claim by CBS's 60 Minutes...