Know Before You Owe. Go!, by Patricia McCoy: “Weve just posted two draft designs for a single, simpler mortgage disclosure form on our Know Before You Owe page. Now, we need to hear from you! The task is pretty simple: Consumers would receive a form similar to one of these versions within a few days of applying for a loan. Take a look, and tell us which one would do a better job of disclosing the necessary information. What information should lenders and brokers share with consumers when they apply for a mortgage?…At the heart of our work is the idea that the consumer financial product and services market should work for you. We think we should learn from you what you want to see. One of the best ways to do that is also the simplest: were asking.”
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Daily Archives: May 18, 2011
Emerging Market Growth Poles are Redefining Global Economic Structure, Says World Bank Report
News release: “By 2025, six major emerging economiesBrazil, China, India, Indonesia, South Korea, and Russiawill account for more than half of all global growth, and the international monetary system will likely no longer be dominated by a single currency, a new World Bank report says. As economic power shifts, these successful economies will help drive… Continue Reading
Federal Reserve: Industrial Production and Capacity Utilization – G.17
Industrial Production and Capacity Utilization – G.17, Release Date: May 17, 2011 “Industrial production was unchanged in April after having increased 0.7 percent in March. Output in February is now estimated to have declined 0.3 percent; previously it was reported to have edged up 0.1 percent. In April, manufacturing production fell 0.4 percent after rising… Continue Reading
Survey: Housing Recovery Remains Unlikely Until 2014 Or Later
truliablog: “Today, we released the latest results of an ongoing survey about American attitudes toward foreclosed homes that weve been teaming up with RealtyTrac on since 2008. Lately, weve been hearing a lot about falling home values and the flood of foreclosures that are still on the market. Given these market factors, we wanted to… Continue Reading
New ABA web portal helps servicemembers and their families understand their legal needs
“ABA Home Front features: a national directory of legal programs and organizations providing in-person consultation and representation for military families in need of legal help; an Information Center with publications and resources on a variety of legal topics that military families may encounter; and the Pro Bono Center connects civilian attorneys to pro bono legal… Continue Reading
BIS: OTC derivatives market activity in the second half of 2010
OTC derivatives market activity in the second half of 2010, 18 May 2011. “Key developments in the second half of 2010: After contracting by 4% in the first half of 2010, total notional amounts outstanding of over-the-counter (OTC) derivatives rose by 3% in the second half, reaching $601 trillion by the end of December 2010.… Continue Reading
Report: Push for Electronic Medical Records Overlooks Security Gaps
PBS Newshour: ‘As the Obama administration pushes ahead with plans to increase the use of electronic medical records, two internal reports released Tuesday by the Department of Health and Human Services revealed “significant concerns” about security gaps in the system. The Office of the Inspector General found “a lack of general [information technology] security controls… Continue Reading
WTO Appellate Body issues report on Airbus dispute
The Appellate Body, on 18 May 2011, issued its report in the case European Communities and Certain Member States Measures Affecting Trade in Large Civil Aircraft (WT/DS316/AB/R). Summary of key findings: “The Appellate Body today upheld the Panel’s finding that certain subsidies provided by the European Union and certain Member state governments to Airbus… Continue Reading
Paper: Statistical Security for Social Security
Follow up to previous postings on funding for Social Security, see: Statistical Security for Social Security, Samir Soneji and Gary King. February 17, 2011, Forthcoming, Demography “The financial viability of Social Security, the single largest U.S. Government program, depends on accurate forecasts of the solvency of its intergenerational trust fund. We begin by detailing information… Continue Reading
Treasury Issues Backgrounders on Raising the Debt Limit
News release: “The debt limit is the total amount of money that the United States government is authorized to borrow to meet its existing legal obligations, including Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and other payments. The debt limit does not authorize new spending commitments. It simply… Continue Reading
National Research Council released final report in the America's Climate Choices series
Following up on previous postings on climate change, this news: “Warning that the risk of dangerous climate change impacts is growing with every ton of greenhouse gases emitted into the atmosphere, a National Research Council committee today reiterated the pressing need for substantial action to limit the magnitude of climate change and to prepare to… Continue Reading
