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...doctor worth his salt proud. Walk up to some poor guy looking forward to a life of pain, deformity and stiffness, pick up his wrist, give it just the right yank and wham! he's cured. Makes you feel like Fonzi kicking the Coke machine. (See TIME's special report "How to Live 100 Years...
Some people with option ARMs have already seen their payments spike, thanks to caps on negative amortization - that is, a loan balance that grows, instead of shrinks, over time. In its report, Amherst dissected one such loan, which was written in 2007 for $465,000 over 40 years. A minimum monthly payment that started at $1,260 soon rose to $1,354 and then to $2,806, more than twice the original amount. The borrower quickly defaulted. Going forward, the bigger problem is the reset that normally comes after five years. Even without negative amortization, many borrowers will see their...
...After One Year, a Stimulus Report Card...
...recent months, Kutu Palong has become a refuge from a brutal crackdown on the Rohingya, according to a report issued Thursday by Médecins Sans Frontières (MSF). More than 6000 people have arrived in the camp since October as police and border authorities have launched an unprecedented crackdown in Bangladesh, pushing over 2,000 Rohingya back across the border into Burma. More than 500 were arrested around the country in January alone. MSF doctors working in Kutu Palong say they have been treating Rohingya who have been beaten and raped. "[Border guards] broke my fingers and then...
...staging a low-level rebellion in the northern part of the country since 2007. "In some cases, the value of the drugs being trafficked is greater than the country's national income," Antonio Maria Costa, director of the U.N. Office on Drugs and Crime, wrote in an October 2008 report on the situation. "[These countries] risk becoming shell states - sovereign in name but hollowed out from the inside by criminals in collusion with corrupt officials...