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...this means we won't see sharply rising unemployment and falling economic output in the coming months as we work off the financial excesses of recent years. Higher productivity makes higher economic growth possible; it doesn't guarantee it. What's more, a financial breakdown can trump long-term fundamentals for years. Gordon identifies the peak years of the 20th century's big wave of productivity growth as 1928 to 1950. A lot of good that did anybody...
...identify borrowers in trouble and modify their loans has been more successful. As of October, the Hope Now Alliance says it has helped 2.3 million borrowers stay in their homes. But only a third of those homeowners actually got loan modifications. The rest got some kind of short-term fix from their lender, such as forgoing a missed payment or giving a few months' reprieve in making payments - and consumer advocates warn that such measures will land those borrowers back in trouble when their regular mortgage terms resume. What's more, the Center for Responsible Lending estimates that nearly half...
...mayoral power. For one thing, he has installed enormous countdown timers in several government offices that measure the time he has remaining in office (440 days, as of today). More insidiously, he is now proposing a change in city law that would allow him to run for a third term, claiming that the current financial crisis requires continuity in municipal leadership in New York. The current law regarding term limits in New York City limits the mayor to two terms, and voters have twice approved the legislation through referendums. While voter support is clearly in favor of term limits...
...draw the district boundaries to his benefit during the 2002 reapportionment while he was Speaker of the Florida House. But that advantage, which in past elections translated into big, double-digit winning margins, has vaporized. The latest poll, released Sept. 18 by Democratic challenger Suzanne Kosmas, a well-financed, term-limited state legislator and businesswoman from New Smyrna Beach, showed Feeney only one percentage point ahead of Kosmas, a statistical dead heat. For the first time, Feeney lost the endorsement of his hometown newspaper, the Orlando Sentinel, which noted on October 12 that Feeney's power has waned, his "hard...
...Three-term Florida Congressman Tom Feeney has not been criminally charged in the Washington corruption scheme that sent super-lobbyist Jack Abramoff to federal prison. But the taint of the Republican's 2003 golf trip to Scotland on Abramoff's dime is derailing his re-election campaign...