(From the WSJ): "While modifications are designed to keep owners in their houses by the time they are worked out borrowers often are well behind on their loans. Lenders often add these past-due amounts -- which can include principal interest taxes and insurance -- driving monthly payments higher. At the same time lenders have been reluctant to reduce principal even for borrowers who owe far more than their homes are worth.

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Employment, Interest and Money: Considering Rowe and Fama on Stimulus

Posted by expathos (#1) 1216 days ago (http://seekingalpha.com)

Employment, Interest, And Money submits: Yes, I'm back with yet another post about the Fama/Stimulus issue. I promise this will be the last one...unl

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Stocks | Employment Interest And Money submits:

Yes I'm back with yet another post about the Fama/Stimulus issue. I promise this will be the last one...unless there are more.

In general for an argument like Professor Fama's to work there has to be some finite resource that is being fully utilized so as to impose a binding constraint on the economy. That is when the government borrows it must be using up something – some actual definite thing not just a vague "funds" (which could mean any number of things depending on how we interpret it). The government must be using up some limited resource that is no longer available to businesses seeking to invest. What is that resource?

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While Carlos Slim's $250M cash injection gives New York Times (NYT) some breathing room, it does nothing to solve its long-term issues, Fitch's Mike Simonton says. "It will be even more challenging for the company to generate positive free cash flow in 2009 with this new, heavy interest burden." The 14.1% notes may cost NYT $35M a year in interest.

Posted by expathos (#1) 1217 days ago (http://seekingalpha.com)

While Carlos Slim's $250M cash injection gives New York Times (NYT) some breathing room, it does nothing to solve its long-term issues, Fitch's Mike

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Stocks | while carlos slims m cash injection york times nyt breathing room solve longterm issues fitchs mike simonton says it challenging company generate positive free cash flow new heavy burden notes cost nyt m year interest All

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