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...borrower's gross income. The government will split the cost of reducing the debt-to-income ratio further than that, down to 31%. Both servicers and borrowers will be paid up to $1,000 a year (for three and five years, respectively) for keeping the loan current...
...Capital cushion: JPMorgan has $23 billion in its rainy-day fund for such losses. Not enough. Shareholders' equity will drop to $121 billion, from the current $167 billion...
...most recent two months. In a bad economy, it makes sense that consumers will avoid a $25,000 purchase. Analysts and economists are trying to figure out how much people are willing to spend for almost everything. Will they buy a new refrigerator for $500 if their current model is old but not broken? The data from the last quarter indicate that they...
...current budget proposal would raise up to $14.4 billion by imposing a variety of temporary taxes - hiking the sales tax by a penny, adding 12 cents to the gasoline tax and raising the car-license fee (something Schwarzenegger had campaigned against in 2003). Cuts include $8.6 billion from K-12 classrooms, which probably would force schools to pink-slip teachers and increase classroom sizes; a 10% cut to the university system; a continuation of the two-days-a-month furlough of state workers that recently closed state offices, including the Department of Motor Vehicles; and several billion in cuts...
...moment, however, the Arab League's current boycott of Israel is a shadow of what it was when it started in 1948 - when all its members banned Israeli goods, banned companies that did business with Israel, banned Israeli passport holders and even travelers with Israeli stamps in their passport. Currently three Arab countries - Jordan, Egypt and Mauritania - have relations with Israel. Almost all the members of the Arab League have dropped the ban on companies that do business with Israel. And behind the veneer of official disapproval, several take a live-and-let-live attitude toward the Jewish state...