Housing Meltdown, Ground Zero
The American home-owning dream on life support.
By Andy Kroll
The turnout was staggering: close to 45,000 desperate homeowners showed up during NACA's five-day stand at the Cow Palace for the chance to renegotiate their disastrous subprime mortgages or sky-high interest rates or interest-only payments. Continue
By Mike Whitney
Abu Dhabi wants to send its wastrel younger brother a wake-up-call by forcing Dubai to restructure its debt. That means that banks, bondholders and contractors will have to take a haircut, which is not surprising given the abysmal condition of the commercial real estate market.Continue
Salehi: Iran will construct 10 new enrichment sites, reaction to P5+1 move: "The West adopted an attitude toward Iran which made the Iranian government to pass the ratification on construction of ten sites similar to the Natanz enrichment facility," he added.
Iran's speaker: Don't gamble on nuclear issue: “I believe there is still room for diplomacy and it is useful for them [World powers] to adopt a diplomatic option,” Parliament Speaker Ali Larijani told reporters in a Monday press conference.
World powers threaten new sanctions against defiant Iran: World powers threatened new sanctions against Iran on Monday after Tehran defiantly pledged to build 10 more uranium enrichment plants, but Russia warned against further escalating the dispute.
Iran says building 10 new enrichment sites "not bluff": "They need to wait and see in the future that what we said was not bluff," Rahimi told reporters, referring to reports by western media that suppose the construction of 10 new nuclear enrichment plants in Iran is a bluff. "We need to get prepared for the reactors that produce nuclear fuel," he was quoted as saying.
Why is China opposed to raising pressure on Iran?: China and Russia supported the International Atomic Energy Agency's rebuke of Iran for building a uranium enrichment plant in secret, but both countries have long blocked the imposition of stringent economic sanctions on Iran.
Exclusive: Russia to start Iran nuclear plant in 2010: The United States previously criticized Russia's involvement in the project but has dropped its opposition and now says the station removes any need for Iran to have its own enrichment program.
Iran says Russia to get priority in power projects: Salehi, speaking after a briefing with Russian Energy Minister Sergei Shmatko who was on a visit to the Bushehr nuclear power plant, said Russia would get priority as Iran sought to build 20,000 megawatts of new generation capacity.
Russia to Build Petrochemical Plants in Iran: "It is possible to develop major chemical complexes here (in Iran) on the basis of oil and gas resources," Shmatko told reporters following an Iran-Russia joint economic commission meeting here in Tehran on Sunday.
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