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...CFPA wouldn't address the root causes of the crisis. Warren argues that the financial meltdown of 2008 was essentially a consumer-protection meltdown, a direct result of exploitative loans that never should have been approved. It's certainly true that the securities that sparked the crisis began imploding after subprime borrowers began struggling to repay the underlying loans. Still, the notion that a CFPA would have prevented the mess is debatable at best. It's not as if all borrowers who bit off more than they could chew were deceived; many of them just wanted more house than they...
...weather, according to the racers, was at the root of the problem. During the early qualification runs, fog mucked with visibility. And all the well-publicized rain and warm temperatures that descended upon Cypress Mountain, which sits about 30 minutes from downtown Vancouver, added to the course's difficulty. "It's challenging because the snow is so slushy," said Simona Meiler from Switzerland, who fell twice during her first qualification run and got a fat, bloody lip. "It's hard to keep your balance. You're not allowed to make any mistakes." (See 25 Olympic athletes to watch...
...says. Ahmed suggests that while the Obama Administration may need the generals' support in the fight against the Taliban and al-Qaeda - who have sanctuaries inside Pakistan's tribal territories - it should not falter in trying to prop up the country's civil institutions. Otherwise, she says, the root causes of illiteracy and poverty that have given rise to militancy in the country will never be tackled, and Pakistan will remain in its downward spiral...
...those countries, tax evasion reduces state revenue. But to different degrees, says Tito Boeri, a professor of economics at Bocconi University in Milan, it is also a root cause of broader problems with competitiveness. "I think the serious problem this tax evasion poses is that it concentrates tax pressures on a small segment of the workforce," he says. "That is an obstacle and an impediment to growth." (See the worst business deals...
Most Greeks agree that the tax system (see following story) and the bloated public sector, nicknamed "the country's sickest patient," are at the root of Greece's current problems. In a country of 11 million people, almost 850,000 workers are employed by the state, which means they receive 14 monthly paychecks instead of 12. Many enjoy a work day that runs from 7:30 a.m. to 2:30 p.m. "The state must change the mentality of the public employee," says one investor and economist, Timos Mellisaris, who calls Greece's public sector "the last communist frontier." Greeks like...