Word: doomed
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...there are scenarios in which even more recent loans could be bigger trouble than anticipated. For its annual actuarial review, which the agency delivered to Congress on Nov. 12, the FHA asked its outside auditor to run a series of doom-and-gloom scenarios - including one that assumes house prices continue to slide and unemployment hits 12.5%. Only in the most dire, and unlikely, of such simulations does the FHA run out of money to cover its losses, which is why FHA commissioner David Stevens has repeatedly said the agency will not need to ask Congress for money...
There's nothing like financial Armageddon for reviving the work of an old economist. Amid the recessionary doom and gloom, the world has channeled Adam Smith, dusted off John Maynard Keynes and revisited Eugene Fama. In recent days, it's been James Tobin's turn. Close to four decades since the Yale economist proposed a levy on foreign-exchange transactions - or a "Tobin tax," as the suggestion became known - the idea is enjoying a new lease of life. At a meeting of G-20 finance ministers last weekend, British Prime Minister Gordon Brown suggested the group of leading countries consider...
...into events of historic importance and a Republican party desperate for a comeback. The Democrats face many hurdles between now the 2010 midterms, and some opinion polling does suggest that support for their agenda is waning, but the results of two local governors races don’t spell doom for Obama and his party...
...both sides are wary of sounding too negative. The last thing a politician wants in a time of economic hardship is to appear as if there's no hope. "If the GOP are too much doom and gloom, that can work to our advantage," says the senior Treasury official. The Republicans seem already to know that. Says McConnell: "As Americans, we are united in our efforts to get the economy back on track and put more people back to work...
...recent Chapter 11 bankruptcy filing of commercial real estate lender Capmark Financial Group appears to validate the doom-and-gloom scenario for commercial real estate fundamentals...