Mooove over, Holsteins. PETA wants world-famous Ben & Jerry's Homemade Ice Cream to tap nursing moms, rather than cows, for the milk used in its ice cream.
You traded in that gas guzzler for a smaller, more fuel-efficient ride. But now, while you're saving dollars at the pump, you've lost something else: the space to carry the bikes, the skis, the toys.
The nation's struggling housing market, already awash in subprime foreclosures, is now getting hit with a second wave of losses as homeowners with liar loans default in record numbers.
Online DVD rental pioneer Netflix Inc resumed normal shipping on Friday after the most severe outage in the company's decade of operations, a spokesman said.
mmccabe, you're practically correct in your interpretation of the Community Reinvestment Act; you missed the part about HOW the back would accomplish this. They [the banks] did this by LOWERING the standard for qualifying for a home loan, plain and simple. No more down payment needed, no reserves, no income verification; how else were the banks going to get these loans closed.
Former Pres. Bush further exasperated this way of thinking through "reverse red-lining". It basically said that if banks wanted to do business in certain areas, they had to provide home loans to people in those areas. Those areas were typically NOT desirable for bank to loan money to but were forced to in order to continue to do business.
The banks, of course, knew these loans were not stable and packaged and re-sold these "bad mortgages" to Wall Street; who also re-packaged and sold these to insurance companies, hedge funds, etc, etc, etc. That's why the bursting of the housing bubble is sooooo HUGE; everyone had their hand in the pot.
Everyone should not own a home, that's why there are rentals. A pyramid is biggest at the bottom (the have nots, worker bees) …not the top. Even the bible says "the poor shall always be among you". Somehow this pyramid is being turned upside down and globalization is a contributing factor.
The world is currently on the down side of the bell curve in terms of available natural resources; wonder what the fallout of that bubble burst will be. I've got my garden going now; 4 plantings a year, working on the solar energy thing for the house cause Solent Green here it comes!!
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