Word: relief
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...addition to getting private equity involved, some of the money from the remaining TARP capital may go to mortgage relief. According to MarketWatch, "The Treasury Department also is expected to use between $50 billion and $100 billion of the bank bailout program to fund a mortgage-mitigation proposal to help troubled homeowners avoid foreclosure." How does that series of programs get administered? No one knows...
...narrow application. First, the provisions will not apply to the $350 billion of bailout funds already spent or allocated. Second, the provisions bypass large-time traders, brokers, and consultants, whose salary and bonuses often surpass the half-million-dollar limit. Third, healthier banks receiving funds through the Troubled Asset Relief Program will be effectively exempted from the provisions. Finally, the Treasury’s directives for increased financial transparency may pressure companies to reduce luxury spending, but they cannot entirely eliminate...
...Many Palestinians view Abbas' regime as corrupt, and are outraged that his Ramallah bureaucrats continue to charge the 17% import tax on relief goods being sent to needy Gazans that was in place before the Israeli blockade was imposed...
More than 10 million hectares (25 million acres) of wheat, nearly half the country's total winter wheat cropland, are now suffering, the most widespread water shortage since 1951, according to China's Office of State Flood Control and Drought Relief. Beijing has not recorded precipitation since for over four months, the state-run Xinhua news service reported. And across the provinces of Hebei, Henan, Shandong, Anhui, Jiangsu, Shanxi, Shaanxi and Gansu, 4.3 million people and 2 million head of livestock are experiencing water shortages...
...government has budgeted nearly $60 million in relief aid for the drought, but that may not be enough to help the millions of unemployed migrant workers returning home to the region in coming months. An estimated 20 million of the country's 130 million migrant laborers have been thrown out of work due to the global economic crisis. A lack of buying overseas has led to factory closures and layoffs in China's coastal manufacturing regions, and many people are heading back to their homes in the interior. Most came from farming regions, and local governments had hoped that agriculture...