Word: problems
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...would be interested in helping fund the new banks. A number of the panelists thought the government's TALF and PPIP programs meant to boost lending were helpful but not the answer. Parkus said he thought extending the terms of commercial loans set to default would only delay the problem and make it worse. As more and more bad loans pile up, he predicted, it will become progressively harder for any of them to get refinanced...
What is clear from the hearing is that commercial real estate could turn out to be a much bigger problem for banks and the economy than the Treasury Department, the Federal Reserve and other bank regulators seem to believe. "The question is, What percentage of commercial real estate loans will have trouble refinancing?" Parkus said at the COP hearing. "It is likely to be a big problem...
...nation would be far less than the value of home loans that go unpaid in the next two years - $53 billion vs. $185 billion. But Warren said she thought the two-year horizon of the government stress test may have understated the size of the banks' commercial real estate problem. The government assumed different default rates for each of the 19 banks for commercial real estate and other types of loans. Warren said the government had not given much information as to what determined the default rate used for each bank; she plans to release a report on the stress...
...least 17 states, along with city health departments in New York City, Baltimore, Boston and San Francisco, now have in place programs similar to that of Chicago Recovery Alliance. But not all officials agree that they are a viable part of any solution to the country's drug problem. Critics argue that arming drug addicts with an overdose remedy only encourages more drug use; they also say naloxone should be administered only by medical professionals to protect against side effects and potentially dangerous misuse. The deputy director of former President Bush's Office of National Drug Control Policy called naloxone...
...long-term fellowships for their staffers. “The standard for selection that we use involves [identifying] people of accomplishment, leadership, and talent to go on in journalism," Giles said. "Whether they do it as freelancers, magazine article writers, or newspaper journalists is not so much of a problem for us--it’s what they represent and how we think they might grow and make their mark in the years ahead." The fellowship program enables working journalists to spend a year at Harvard pursuing a specific field of study, participating in various seminars, and attending special events...