Word: returnables
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...warn of disaster, pass around his three-page plan and demand $700 billion to fix the problem. Most members of Congress were so spooked they were ready to write a check, until their phone lines started melting with the angry voices of taxpayers demanding details about the likely return on the investment. But even the minimal strings attached did not prevent the first $350 billion from vanishing, with the government overpaying about $78 billion for the assets it bought. The banks told pesky reporters and congressional watchdogs that how they spent the bailout cash was really none of their business...
...been chopped up and dispersed to investors around the globe with a third-party servicer in charge of collecting payments--that's not happening. "Servicers don't have the right incentives," says Christopher Mayer, professor of real estate at Columbia University's Business School. Cutting them a check in return for a modification of the loan, or trumpeting their legal authority to do so, is meant to prime the mortgage-rewriting pump, as is letting bankruptcy judges revise mortgages...
...down. "We brought in a class of buyers that shouldn't be in homes at all because they don't have the income," says Edward Leamer, professor of economics at UCLA. "We have to figure out what to do with these folks." There have been ideas on how to return owners to the rent rolls. Last year, for example, Arizona Congressman Raśl Grijalva proposed changing foreclosure rules to let homeowners petition a judge to let them remain where they are as renters for a defined period...
...expansion of Jewish settlements in the West Bank, which Palestinians say is a main obstacle to peace, and they are adamant that Israel should hang on to the Golan Heights, which was seized from Syria in the 1967 war. Netanyahu and Lieberman also say the army ought to return to Gaza and wipe out Hamas. During the campaign, Netanyahu said, "There will be no alternative but to bring down the regime of Hamas, a terrorist organization pledged to our destruction. Ultimately, Israel cannot tolerate an Iranian base right next to its cities...
Tricky's road to Paris started a year ago with a return home, to the hardscrabble Knowle West district of Bristol, England. That trip led to the release of his latest album, Knowle West Boy, a fusion of Britpop and hip-hop that Rolling Stone calls "Tricky's best since his 1995 debut Maxinquaye". For the 41-year-old artist, that journey home was a chance to take stock. "You can't just keep moving forward, you have to look backwards sometimes," Tricky tells TIME. Revisiting his own difficult childhood, Tricky found himself wanting to "talk for kids growing...