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...this year compared to the same period a year ago. Bloomberg, reports that "about $500 billion of prime-jumbo mortgages are bundled into bonds, according to Memphis, Tennessee-based FTN Financial." The default rate on those bonds may rise as high as 10%, leaving banks with yet another set of substantial write-offs...
...Issue Set His party could be too. Hispanics, Asians and blacks are on track to be the majority in three decades; metropolitan voters and young voters who skew Democratic are also on the rise. This is why Rogers recently decided to quit being a talking head: "I had a meeting with myself, and I said, Do we really need more white lobbyists with gray hair on TV?" But it's not clear that more diverse spokesmen or better tweets can woo a new generation to the GOP; support for gay rights is soaring, and polls show that voters prefer Democratic...
...desk, surprised me by declaring that the Reagan era is over. "Marginal tax rates are the lowest they've been in generations, and all we can talk about is tax cuts," he said. "The people's desires have changed, but we're still stuck in our old issue set." Snowe recalls that when she proposed fiscally conservative "triggers" to limit Bush's tax cuts in case of deficits, she was attacked by fellow Republicans. "I don't know when willy-nilly tax cuts became the essence of who we are," she says. "To the average American who's struggling...
...easily: Respect reality. Understand the age you're living in, and understand its facts. As William F. Buckley said more than two years before his death, "Conservatism implies a certain submission to reality." But the approach championed by Burke and Buckley is a far cry from the mind-set embraced by today's Republican Party...
With 20,000 U.S. troops set to arrive in Afghanistan in the months ahead, some worry that more forces will mean more contact with the insurgents. Western military planners counter that the extra boots on the ground will lessen the dependency on airpower - and the risk of civilian deaths. Nader Nadery, head of the Afghan Independent Human Rights Commission, says it's "too soon to judge" whether changes in coalition policy are making a difference since the fighting season in Afghanistan has just begun. However, says Nadery, what's certain is that the Taliban continue to use civilians as human...