Word: problem
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...these talks, however, it appears that the breadth of her proposal is causing friction. HUD's existing programs would seem to be the natural foundation for a mortgage rescue plan. But part of the problem in addressing the housing crisis is figuring out which loans can still be serviced, since some banks required little or no documentation of a homeowner's ability to carry the loans. The FDIC's role as a bank overseer is viewed as giving it more insight into the quality of loans on banks' books...
...final hitch may be the perennial problem of who gets credit for the plan once it is agreed on. Several sources stressed that the deal's rollout, whenever it occurs, would come from the White House, not the agencies who were negotiating the details...
...already seen some of this throwing-the-kitchen-sink-at-the-problem approach over the past year. Expect much more in the coming months. Bernanke is committed to avoiding serious deflation, because he's convinced that serious deflation makes an economic downturn much worse by making it much harder for debtors to pay back loans. That's probably the right stance right now. When banks and consumers are both trying to cut back on their debts on a mass scale, deflation really is the big threat...
...American enough?" was an excellent review of the hidden reason why Obama could lose the upcoming election. The author was quite correct that the problem goes beyond race and, instead touches on the cultural differences this candidate seems to represent. My only disappointment is that the precise word for this hidden element in the campaign - xenophobia - never appeared once in the article. People should be given the word that applies to this ugly situation, even if they are proud of living in their "melting pot." Max Gordon Lee, ECHIROLLES, FRANCE...
Accepting Blame Why do we hear so many Americans blaming their government for the financial crisis [Oct. 20]? Observing from the southern tip of Africa, with my little salary of $1,500 a month, I cannot help but ask when will Americans themselves accept responsibility for the problem and recognise that they have been living beyond their means for much too long? Are you adult, responsible people, or should your government also wash your ears in the morning? Henri du Plessis, CAPE TOWN