Originally published on Mon August 19, 2013 3:58 pm
Credit Spencer Platt / Getty Images
A task force commissioned by President Obama says that cities hit hardest by Super Storm Sandy need better construction to respond to the stronger storms spun by climate change.
In a report released today, the Hurricane Sandy Task Force lays out suggestions like building a more resilient and modern electric grid, new flood-protection and more stringent building standards in the affected areas.
The suburbs can be a creepy place. And they are at their creepiest in Patrick Flanery's new novel, Fallen Land. Set outside an unnamed American city, this dark and complex thriller plays out in a half-built subdivision where construction ground to a halt during the housing crisis.
Beth Glover was a juror on the trial of former Goldman Sachs trader Fabrice Tourre. When the lawyers were discussing the mortgages tied to the securities at the center of the case, Glover realized that, for all intents and purposes, they were talking about her mortgage.
"When they were looking at the subprime mortgage groupings, I think I would have been in one of those," Glover told me. "I didn't have as great as FICO score at that time."
Driven by a recovery in the U.S. housing market, mortgage finance giant Fannie Mae netted profits of $10.1 billion in the second quarter, its sixth-straight quarter with positive results. The company, which has operated under federal conservatorship since 2008, reported its earnings Thursday.
Fannie Mae cited "a significant increase in home prices in the quarter," which nearly doubled that of last year's second quarter.