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...there's more to the holdup than a bunch of big companies dragging their feet. As the GAO report points out, Treasury itself has taken its time - perhaps legitimately - in rolling out details of the program. Only in late April did servicers get guidance on how to handle second liens. In May came information about dealing with geographic areas where home prices continue to decline quickly. Other details, like the process for modifying loans insured by the Federal Housing Administration, continue to emerge. It seems that writing the fine print for a program meant to spend up to $50 billion...

Author: /time Magazine | Title: Why the Banks Aren't Modifying Home Loans | 7/30/2009 | See Source »

...What puzzles me most in the report of your actions—or reactions—on July 16 is why you would have chosen, as I've heard you put it elsewhere, to "talk Black" to Officer Crowley instead of "talking White" as you so eloquently and regularly do? These are distinctions I've heard you expound—how educated African Americans switch their register of speech depending on what part of themselves they want to get across. Many of us do something similar inside and outside our particular communities, but you make it sound like a sport...

Author: By Ruth R. Wisse | Title: A Colleague's Concerns | 7/30/2009 | See Source »

...Whalen had been cited in a police report of the incident as saying that she saw "two black males with backpacks" trying to enter Gates' home. But tapes of the 911 call and the police radio transmissions released on Monday show that Whalen, who was actually calling police on behalf of an elderly woman at the scene, did not mention race in her call. She noted repeatedly to the police dispatcher that she did not know if the men lived at the home and were simply having trouble with their key, and only said that one of the men might...

Author: By Peter F. Zhu, CRIMSON STAFF WRITER | Title: Shaken 911 Caller Speaks About Gates Arrest | 7/30/2009 | See Source »

...Republicans, who are chomping at the bit to get a definite step-down date from her. (Special elections in Texas are always a roll of the dice; Hutchison herself first won election to the Senate via one.) Democratic activist Karl-Thomas Musselman blogged on the Austin-based Burnt Orange Report after Wednesday's confusing news, "Sen. Hutchison continued toying with our emotions this afternoon with a clarification of her comments earlier today, which of course, coming from Hutchison means that she's actually about to make things more confusing and ridiculous than they were before." (Read "A Brief History...

Author: /time Magazine | Title: Kay Bailey Hutchison Is Running for Governor! (Or Is She?) | 7/30/2009 | See Source »

...July 16 arrest by a white police officer. On July 30, Gates and the arresting officer, Sergeant James Crowley, will meet with Obama at the White House to have a beer and discuss the maybe-racist-maybe-not incident in which the three men find themselves entangled. Anticipatory news reports of the drinking session have included a seemingly bizarre fact: the White House only serves domestic, or American-made, beer. A report in the Boston Globe claimed that the patriotic policy has been in place since the Johnson Administration and that Gates, an admitted fan of Germany's Beck...

Author: /time Magazine | Title: What Kind of Beer Is Served at the White House? | 7/30/2009 | See Source »

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