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...Causes of the Crash Reading about the subprime loan debacle, I am amazed that nobody seems to have asked the simple question: What will happen if a large number of these loans default? [Oct. 20] Or was it only greed that made everybody turn a blind eye to the possibility that the bubble could ever burst. Did no one consider that if the subprime-mortgage market crashed, thousands of families could have their lives turned upside down virtually overnight? Frederik Steenbuch, Oslo...
...economy. Its slide predates the global financial meltdown, with Treasury announcing back on Aug. 5 that the country was in recession. It was around this time that inflation hit an 18-year high and petrol passed the $NZ2-a-litre barrier. Like all shrewd incumbents, Clark has tried to turn bad news to her advantage: "I have the experience, the judgment and the skill set which can carry our country through what is the worst international financial crisis for more than 70 years," she said in a televised debate with Key on Oct. 14. But many New Zealanders are buying...
...will vote differently in November. Why does it seem so intolerable? I fear that something cultural - and quite dangerous - is at work. In our public discourse, Americans can't seem to discuss and debate issues with anything approaching respect or intellectual honesty. We oversimplify, we distort, we dismiss. We turn the challengers into enemies. And when that madness infects our private discourse, our family members become foes. Not good for family harmony - and not a very wise way to go about choosing a world leader. Mitch Neuger, SAN FRANCISCO...
...usually turn away from scenes like the one in Englewood, a fabled slum on the South Side of Chicago. On 70th Street and South Yale Avenue, a grandmother lay dead by the front door of her house; her adult son had been killed moments before by a shot through the kitchen window; her 7-year-old grandson was missing, his bullet-riddled body later recovered in an abandoned car. The boy's stepfather, on parole after years in prison for attempted murder and carjacking, has been taken in for questioning. "Because I chose to do what was natural...
...progress in Iraq is fragile and easily reversed. And it will be a shame, after going so far, to just turn around and let it collapse, because a collapse in Iraq is not just a collapse in Iraq. It could lead to a Middle East that looks like Iraq now,” Scowcroft said...