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...President Barack Obama described this stark reality in his recent speech rolling out an expensive plan to keep the housing market from sinking further. Picture "a young family," he suggested. "They save up. They search. They choose a home that feels like the perfect place to start a life. They secure a fixed-rate mortgage at a reasonable rate, make a down payment, and make their mortgage payments each month. They are as responsible as anyone could ask them to be." (Read: "Will President Obama's New Housing Plan Work...
...improved passenger survivability in airplane crashes. In testimony to members of the House Transportation and Infrastructure Committee, Candace Kolander, air-safety coordinator for the Association of Flight Attendants, a flight-attendant union that has long pushed for improvements to onboard safety, listed three main successes that are proving to save lives. (Read "How to Survive a Plane Crash...
...Korean economy. For example, South Korea hasn't developed the kind of social services, such as day-care centers for the children of working parents and homes for the elderly, that would relieve some of the financial burdens on working-class families and encourage them to spend rather than save. "What tended to be taken care of in the household could become more marketized," says Lim Won Hyuk, an economist at the Korea Development Institute in Seoul. "There is a lot of room for job creation...
...private partnership to buy up toxic assets. Banks hold tens of billions of dollars in mortgage bonds, and as the bonds fell in value or were wiped out completely, they erased precious capital the banks need to survive. Geithner and others believe that rescuing banks from these bonds will save them. To do that, the bonds have to be priced to sell...
...recently written a letter to Congress and the President to ask for help, as her school is crumbling and in need of repair. "We are not quitters," the letter said. Obama faced his audience. "We are not quitters," he repeated. (Read "Sparing a Dime to Save a College...