Word: reflecting
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Dates: during 2000-2009
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...that may simply reflect the reality that there are a lot of people in homes who aren't going to be in them long term and that trying to keep them there is throwing good money after bad. The plan allocates money that implicitly acknowledges that: $1.5 billion to help displaced homeowners transition back to being renters and $2 billion to boost HUD's Neighborhood Stabilization Program, which lets cities and states deal with foreclosure fallout. (See pictures of the recession...
...plan. Only interest payments will be lower, not principal balances. Homeowners who owe more than 105% of the value of their house - as is often the case in the worst-hit areas of the country - will be ineligible. And holders of jumbo loans need not apply. Again, that might reflect a sense of fairness - why should we help people who stretched beyond their means to buy McMansions? - but it ignores the facts that the delinquency rate among jumbo loans is spiking and that a foreclosed property hurts the value of surrounding ones, no matter the size of the house...
...news reporter and editor for more than 50 years, I feel that newspapers can save themselves. How about concentrating on purely local news instead of trying to reflect what readers saw on cable TV the day before? Publish local school lunch menus, city-hall doings and, yes, local police and court reports. Community papers are taking off and will fill the gap as the big dailies die off. As for coverage from Baghdad and Kabul, editors can rely on the Associated Press and other news organizations with respected reporters. Gang reporting wastes time and money. Frank Real, PALMER, MASS...
Whether you think this is a problem depends on whether you agree with Kaplan and Rauh's assessment of the forces behind rising Wall Street pay. If it was all a market phenomenon, it will now correct itself, as the financial sector's employee ranks and paychecks shrink to reflect the smaller pool of assets it has to play with. Overall income inequality is likely to drop sharply as well, Kaplan says...
...beyond its final dollar tally, the disassembling of the Saint Laurent-Bergé collection is significant as a chance to mine the last vestiges of the 20th century aesthetic, and reflect on those same walls that divide - and sometimes unite - the artist and artisan, taste and knowledge, sense of style and pursuit of the sublime. (See pictures from Yves Saint Laurent's art auction...