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Many of the nation's largest lenders, including Citigroup and JPMorgan Chase, have meager interest in converting homes into rentals. "We're in the lending business," says Chase spokesman Tom Kelly. "We're not really equipped to be landlords." Lenders are sitting on nearly half a million repossessed houses nationwide, but getting rid of them quickly, even if that means taking a hit on price, seems to be the preferred response. A recent presentation by the head of Chase's retail-financial-services division showed that the company's servicing portfolio went from having about 52,000 repossessed homes...
...with a series of delays and setbacks, including a sudden explosion between two magnets nine days after the accelerator was first turned on, the arrest of one of its contributing physicists on suspicion of terrorist activity and, most recently, the aerial bread bombardment from a bird. (A CERN spokesman said power cuts such as the one caused by the errant baguette are common for a device that requires as much electricity as the nearby city of Geneva, and that physicists are confident they will begin circulating atoms by the end of the year). (See the top 10 animal stories...
Such raw commentary from France's top Europe diplomat understandably raised hackles in Britain - as well as eyebrows in France. The uproar led Lellouche's spokesman to suggest that his comments had been poorly translated (a feeble dodge once the Guardian noted that the interview had been conducted in English). Still later, Lellouche, who is perfectly fluent in English, explained that he had used terms like "autism" and "pathetic" in a flippant, colloquial French manner. By the end of last week, however, Lellouche took a significant step back, calling himself "the most Anglophile politician" in France and saying that...
...police academies, have done the seemingly impossible: turned Pakistani public opinion against militants who had formerly been considered holy warriors fighting international forces in Afghanistan. That has allowed the army to go in with popular support. "This operation is not against an area or a tribe," says military spokesman Major General Athar Abbas. "The objective is to regain the space lost last year when Baitullah Mehsud declared war on the state of Pakistan...
...exchange for their neutrality. The Haqqani network, led by former Afghan warlord Jalaluddin Haqqani - one of the U.S.'s most-wanted militants, whose network has concentrated its efforts on attacking NATO forces in Afghanistan - is also expected to remain passive throughout the operation, military officials tell TIME. Army spokesman Abbas defends these agreements. "If you have to defeat the main serpent, would you like to isolate that from the others or deal with them all at once?" he asks. Hussain thinks the tactic makes sense in the short term but worries that in time, the groups that are neutral...