| New wave of defaults on ARMs could hit soon
The no-worries lending that inflated the housing bubble is resulting in a flood of soured option-ARM loans, adjust able-rate mortgages that allow borrowers to pay so little every month that their loan balances rise rather than fall, sometimes sharply. Numbers from industry trackers suggest that these borrowers most of whom boast respectable and often top-tier credit scores and appear to have substantial incomes and home equity are starting to create a second tide of defaults for lenders swamped by the meltdown in subprime loans made to people with bad credit or overstretched finances. .
Ottawa fires nuclear safety commission head
The federal government has fired the head of the Canadian Nuclear Safety Commission, days after she publicly accused Natural Resources Minister Gary Lunn of interfering with the independence of the arm's-length watchdog. The former head of the Canadian Nuclear Safety Commission, Linda Keen, says she will appear at a parliamentary committee about the reactor closure on Wednesday.(CBC) "The president was aware of the importance of maintaining Canada's and the world's supply of medical isotopes," said the statement from Lunn's office. "However, given the growing crisis, she did not demonstrate the leadership expected of the president under the existing legislative provisions of the Nuclear Safety and Control Act to put the commission in a position to address the situation in a timely fashion." Lunn and Keen have been at odds since the 50-year-old Chalk River nuclear reactor was shut down in November, prompting a worldwide shortage of medical isotopes.
Feliz nears Giants exit
Ex-Giant Torres traded: Former Giants pitcher Salomon Torres, who led the league in appearances in 2006, was dealt Friday by the Pirates to the Brewers for pitching prospects Marino Salas and Kevin Roberts. The Brewers are rebuilding their bullpen after losing Francisco Cordero to Cincinnati and Scott Linebrink to Chicago via free agency. Torres, now 35, made 94 appearances in 2006 after pitching in 78 games in 2005 and 84 in 2004. Last season, Torres had recurring problems with a sore right elbow, limiting him to 56 appearances. He was 2-4 with a 5.47 ERA and lost the closer's job. The right-hander is due $3.2 million in 2008. Inge wants out: The Tigers are open to trading third baseman Brandon Inge, who lost his job to newly acquired Miguel Cabrera.
Basement rules not for admn
Meanwhile, the two-hour-long power failure in the grid of the Northern Railway resulted in the arrival of Delhi-Chandigarh Shatabdi Express and Himalayan Queen two hours behind schedule. The snag had developed near Panipat, said sources. .
Open Thread
They see Mc Cain, the pro immigration, anti tax cutting, Mc Cain/Feingold. OR..Huckabee, pro immigration, pro tax history, unelectable. These two are whom the MSM seem to want to run. So they are getting two the left can beat, and even if they don't beat them they will get a flood of immigration, and tax hikes so they win even if they loose. So we cut off Fox because we are pissed. The person that I feel comes closest to a real conservativeis Fred, 5th place in a race of 6. I telling you now, it will be a long time in the wilderness again, (thanks Bush, and the over spending congress)+ open borders! Between business that want open borders, and every politician thinks that they will stay in office because the immigrants will vote for them. The conservatives will stay home again.
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