Word: recessional
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Speaking at an annual conference of real estate editors, James Lockhart, head of the Federal Housing Finance Agency, said on Thursday the government shouldn't run Fannie Mae and Freddie Mac. Lockhart should know. He leads the agency that has been doing just that since last September, when the giant...
This week, however, the Obama Administration said it was not going to do anything to help California right now, believing that the state should try to get its budget mess in order first. There are good reasons for the Treasury not to rush to California's aid. If it backstops...
Sandoval, like many of California's 39 million residents, is caught up in the pain of the worst recession in 50 years and a state's flailing attempt to balance its books by making brutal cuts in programs long seen as essential. The Sandoval family is but one of more...
Like all sports organizations, the United States Golf Association, overlords of the U.S. Open championship, has been crushed by the recession. For example, there are 54 cozy, steak-and-shrimp-filled corporate hospitality tents, going for about $240,000 a pop, at this year's Open at the Bethpage Black...
What's even worse, this Open was supposed to have significant recession-fighting qualities. The location is advantageous - Bethpage Black is just a par-5 from New York City, a ravenous sports market whose economy hasn't completely crashed. The fans would be loud and ready to spend. Also, terrific...