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Nuclear Power Gets Boost from Candidates
Though they have voted for legislation that includes loan guarantees for the nuclear industry, both say that federal subsidies have been tilted for too long toward fossil fuels and nuclear power and should focus on renewable energy sources like solar and wind. Yet both say that new nuclear power cannot be ruled out. At a South Carolina rally, Clinton said: "I think nuclear power has to be part of our energy solution. . . . I don't have any preconceived opposition; I just want to be sure that we do it right, as carefully as we can." Obama, whose home state has 11 nuclear power plants, the biggest concentration in the country, said while campaigning in New Hampshire: "I don't think we can take nuclear power off the table." If the nation can resolve the waste and safety issues, he said, "then we should pursue it, and if we can't, we should not." The three top Democratic candidates all oppose creating a repository for nuclear waste at Yucca Mountain, 100 miles northwest of Las Vegas in the early-caucus state of Nevada.
Six steps to hold off the recession
Cut your spending. Make this a priority. Weigh up whether you really need that new flat-screen TV, and maybe going on a plush overseas holiday can wait one more year. Making sacrifices this year and living on a tighter budget will leave you much better off in the long run. Reduce your debts. Pay a lump sum on your credit card, and reduce any loan repayments. Make sure that you are paying the lowest rate possible on any borrowing you have. .
Lenders to begin tacking on new fees for mortgages
Still others apply to anyone buying an investment property or getting a 40-year mortgage. The riskier the loan, the pricier the fees. "We've been talking about risk-based pricing for years. It's here," says Bob Walters, chief economist for Quicken Loans. The charges will be assessed on loans that are securitized after the end of February. Because securitization takes time, some lenders started levying the fees in November. Soon, all lenders will pass along the new fees, either as closing costs or by charging higher interest rates. For consumers, the new charges come at an awkward time. Credit scores often take a dive during and after the holiday shopping season because people run up their credit card balances. Maxing out a store charge card could cause someone's credit score to dip below 680, subjecting the oblivious shopper to mortgage fees in the new year.
Motley Fool Personal Finance: Beware The Two-Tier Mortgage
If you dislike horror stories then please look away now, especially if you borrow money. That's because a two-tier mortgage market is just around the corner. According to the Bank of England, lenders scaled back lending to households in the last three months of 2007 as strains in the money market took its toll. The Bank's quarterly credit survey shows that households found it increasingly difficult to borrow money towards the end of last year. Unsecured lending, which includes credit cards, personal loans and car financing, fell. Worryingly, secured lending, which are loans secured against properties, also fell as a result of banks reducing their appetite for risk. The upshot is that some homeowners who are coming off fixed-rate mortgage deals may find it difficult to get new loans.
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