Word: warning
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...necessarily because the U.S. has achieved its benchmarks on the ground. A new U.S. National Intelligence Estimate on Iraq, intended to guide the next U.S. president on the situation there, is reportedly near completion. Reflecting the consensus among the 16 U.S. intelligence agencies, the new NIE will reportedly warn that, contrary to the rosy picture of progress stressed by McCain on the campaign trail, the situation in Iraq remains precarious. Although violence has been reduced to its lowest levels since early 2004, U.S. intelligence officials believe that the surge involving an extra 30,000 U.S. combat troops was only...
...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 those borrowers who got modifications saw their monthly payments go up, not down...
...July, Congress allocated $300 billion for a new plan, Hope for Homeowners, to help borrowers stay in their houses. It went into effect this month, but analysts warn that it won't stop the rise in foreclosures. An April report from the Congressional Budget Office (CBO) estimated that banks would refinance only about 400,000 home loans, possibly fewer. And in recent congressional testimony, officials from JPMorgan Chase said only about $2.5 billion of its home loans (some 14,000 borrowers) of the $845 billion in home loans it services would qualify for the program. Worse, warns the CBO, nearly...
Brown is in his element, a lame duck confounding expectations by soaring high. (Aides warn him against looking cheerful.) His critics take comfort from history: an ungrateful British public voted Churchill out of office at war's end. Still, by that logic Brown is safe until the financial turbulence subsides. For a Premier who only a month ago was staring defeat in the face, the world's economic nightmare looks like an economic miracle...
...existed in some form or another for more than two decades, though union leaders say it has been rarely enforced. But on Oct. 1, schools chancellor Joel Klein used his monthly newsletter to principals at New York's 1,500 schools to remind them of the policy and warn that disciplinary action could be taken against staff who choose to ignore the rule, prompting the union to take legal action to overturn...