Word: thursdaying
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When President-elect Barack Obama met with America's governors earlier this week, he got an earful about the recession-induced budget crisis they face. On Thursday those words of woe were backed up by a fresh report on the rapidly deteriorating condition of state finances. Revenues are dropping so fast that state budget cutters can't keep up, according to a report released by the National Conference of State Legislatures (NCSL). States that collectively cut $40 billion in spending to balance their budgets over the summer are now facing an additional $32 billion shortfall as tax receipts come...
...only make the low-cost mortgages available to people making new home purchases. That would do little to help people who are already behind on their mortgage, or at risk of facing foreclosure. And many economists argue housing prices won't stop falling until foreclosure rates come down. On Thursday, Federal Reserve Chairman Ben Bernanke said that he thinks the government should do more to stop foreclosures. He named a number of possible programs, including a plan floated a few weeks ago by Sheila Bair, who heads the Federal Deposit Insurance Corporation, for the government to pay mortgage servicers...
...Harvard’s fiscal crisis. Waite temporarily suspended his campaign yesterday, issuing a press release arguing that “this is a time not for politics but statesmanship.” Koenigs said that “we shouldn’t even have the debate on Thursday, but should focus on getting that $8 billion back...
...biblical city of Hebron burned late into the night Thursday, as militant Israeli settler youth went on a violent rampage through Palestinian neighborhoods, burning the property of, shooting at and beating random Palestinians they came across. The militants were reacting to an eviction earlier that day by Israeli security forces of settlers occupying a Hebron house whose ownership is in dispute. Initial indications were that the rioting settlers had injured at least 15 Palestinians, two or three of whom had suffered gunshot wounds, and Israeli security officials were on high alert to prevent any attempted settler terrorist attacks on Palestinian...
...everyone in India is comforted by simply hounding culprits over the border in Pakistan. Some worry about a deeper and closer conspiracy. Media reports on Thursday had the attackers carrying at least three SIM cards purchased on the Indian side of the border with Bangladesh, pointing to some local collusion, a possibility the police had tried to rule out when they first publicized Kasab's testimony. Lapses in policing since the attacks have infuriated the public. Newspapers ran stories this past week about how even after the attacks, truckers transporting contraband into the city were allegedly able to bribe cops...