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Because reverse mortgages do not require borrowers to make immediate repayments, the interest charges are added to the debt every day, and the total amount owed grows over time.
Champions don’t do extraordinary things. They do ordinary things, but they do them without thinking, too fast for the orther team to react. They follow the habits they’ve learned.
Lawmakers in both political parties have often acceded to unions' requests to avoid political confrontations or to curry favor. They have pushed difficult choices into the future.
The problem is that your brain can't tell the difference between bad and good habits, and so if you have a bad one, it's always lurking there, waiting for the right cues and rewards.
The Safe Drinking Water Act was passed in 1974 after tests discovered carcinogens, lead and dangerous bacteria flowing from faucets in New Orleans, Pittsburgh and Boston and elsewhere.
When marketers influence habits, they influence peoples' self-identity. And so when a group or company does something that doesn't correspond to our core values, it feels like a betrayal.
Lawsuits against reverse mortgage companies, including the nation's largest, Financial Freedom Senior Funding, contend that those firms helped pressure older Americans into bad investments.
Hank Paulson, the happy capitalist warrior who spent his life pursuing and defending free markets, is now the biggest interventionist Treasury secretary we've had since the Great Depression.
During the 1970s and 1980s, Congress distributed more than $60 billion to cities to make sure that what goes into toilets, industrial drains and street grates would not endanger human health.
Every habit is made of three parts... a cue, a routine and a habit. Most people focus on the routine and behavior, but these cues and rewards are really the way you make something into a habit.
Older Americans are perfect telemarketing customers, analysts say, because they are often at home, rely on delivery services, and are lonely for the companionship that telephone callers provide.
The biggest moment of flexibility in our shopping habits is when we have a child, because all of your old routines go out the window, and suddenly a marketer can come in and sell you new things.
The Great Bailout is mostly over for the banks. But for those troubled behemoths of the nation's housing bust, Fannie Mae and Freddie Mac, the lifeline from Washington just keeps getting longer.
A huge amount of success in life comes from learning as a child how to make good habits. It's good to help kids understand that when they do certain things habitually, they're reinforcing patterns.
Massachusetts has prohibited most financial advisers from using titles like 'certified senior adviser,' and some of the largest insurers, including MetLife and Genworth Financial, have similar rules.
Between 1857 and 1929, while regulators largely stood idle, the American economy swung through 19 national boom-and-bust gyrations that sometimes threatened to wipe out whole industries within months.
One goal of the Clean Water Act of 1972 was to upgrade the nation's sewer systems, many of them built more than a century ago, to handle growing populations and increasing runoff of rainwater and waste.
The specific steps for changing a specific habit differ from person to person and habit to habit, but the steps - the formula - is essentially the same, and once you learn it, you can do amazing things.
Teenagers ultimately don't mind belonging to a group, because there's always the opportunity to eventually become someone new. The elderly, by definition, are running out of opportunities for reinvention.
Simply giving employees a sense of agency- a feeling that they are in control, that they have genuine decision-making authority - can radically increase how much energy and focus they bring to their jobs.
Medicare's top officials said in 2006 that they had reduced the number of fraudulent and improper claims paid by the agency, keeping billions of dollars out of the hands of people trying to game the system.
Martyrs - those killed because of their Catholic faith - can be beatified even if they don't perform a miracle. However, all beatified individuals must stage a certifiable miracle before being made a saint.
In 1940, Germany toppled France in 20 days, and the panzerdivizion symbolized war's shift from drawn-out conflicts using massive fortifications to rapid-fire engagements built around manned, motorized armor.
Typically, when there are corporate habits that undermine individuals, it has emerged without any sort of central planning. Nobody sits down and says, 'I'm going to create an evil habit for this corporation.'
Fraudulent and improper payments have long bedeviled Medicare, a $466 billion program. In particular, payments for durable medical equipment, like power wheelchairs and diabetic test kits, are ripe for fraud.
Fannie Mae has traditionally only bought and sold mortgages. But when a loan held by the company goes into foreclosure, Fannie Mae gains ownership of the underlying property until it is resold to new investors.
It is facile to imply that smoking, alcoholism, overeating, or other ingrained patters can be upended without real effort. Genuine change requires work and self-understanding of the cravings driving behaviours.
While markets are supposed to ensure transparency by showing orders to everyone simultaneously, flash orders are currently allowed because of a loophole in securities regulations that allows for immediate trades.
A few decades ago, many people didn't drink water outside of a meal. Then beverage companies started bottling the production of far-off springs, and now office workers unthinkingly sip bottled water all day long.
We love to receive praise, but usually we're not certain what message, precisely, we should take from it. On the other hand, when someone points out our flaws, we realize immediately that something needs to change.
The discovery of the habit loop is important because it reveals a basic truth: When a habit emerges, the brain stops fully participating in decision making. It stops working so hard, or diverts focus to other tasks.
Government and other scientists have identified hundreds of chemicals that are linked to diseases in small concentrations and that are unregulated in drinking water or policed at limits that still pose serious risks.
The same process that makes AA so effective—the power of a group to teach individuals how to believe—happens whenever people come together to help one another change. Belief is easier when it occurs within a community.
Prosecutors say it would be next to impossible to get one teen to testify in court that another had slipped him or her a copied disc at lunchtime. And besides, isn't sharing music a time-honored part of teen friendship?
Public employee unions, in their defense, say politicians have unfairly made them into simplistic bogeymen, responsible for problems that have myriad causes. Not all government workers receive generous pensions, they note.
The desire to collect information on customers is not new for Target or any other large retailer, of course. For decades, Target has collected vast amounts of data on every person who regularly walks into one of its stores.
Union leaders argue that pension shortfalls account for a proportionally tiny portion of governments' financial problems, and by all accounts, there are plenty of parties to blame for the growth in payrolls and obligations.
In 1688, Edward Lloyd opened a coffeehouse on London's seafront popular among underwriters, men in powdered wigs with mathematical minds and steely constitutions who offered to compensate owners if their boats were lost at sea.
Way back in 2000, the EPA was poised, and, in fact, had drafted a rule, to specially regulate pollution - water pollution and other types of pollution - from power plants, but the energy industry pushed back pretty significantly.
Economists at the National Bureau of Economic Research and University of Chicago persuasively argue that one of the biggest reasons for the nation's current obesity epidemic is that food is now so much cheaper and easier to prepare.
There’s something really powerful about groups and shared experiences. People might be skeptical about their ability to change if they’re by themselves, but a group will convince them to suspend disbelief. A community creates belief.
It is often difficult to definitively link a specific instance of disease to one particular cause, like water pollution. Even when tests show that drinking water is polluted, it can be hard to pinpoint the source of the contamination.
The biggest moment of flexibility in our shopping habits is when we have a child, because when you think about it, all of your old routines sort of go out the window, and suddenly a marketer can come in and sell you new kinds of things.
Once you understand that habits can change, you have the freedom and the responsibility to remake them. Once you understand that habits can be rebuilt, the power of habit becomes easier to grasp and the only option left is to get to work.
Our brain is essentially programmed to enjoy carbohydrates because they give us a sense of fullness and a rush of pleasure. When people go on low-carb diets, they start to almost subconsciously experience distress from eating carbohydrates.
Even though it's hard to learn how to back your car out the driveway at first, once it becomes a habit, you can do it almost automatically and think about something else, like the meeting that you need to go to today or what's on the radio.
As people strengthened their willpower muscles in one part of their lives—in the gym, or a money management program—that strength spilled over into what they ate or how hard they worked. Once willpower became stronger, it touched everything.
Like solo sailors venturing into the Southern Ocean, climbers are seduced by risk. The desire to push to a summit or scale a rock face is so strong that they consciously or subconsciously minimize safety precautions drilled into their brains.
Back when Detroit was the head of auto manufacturing, it was clear where profits were created. Right? A car was made in Detroit. There was little argument that you could make that some of the money from that should be sent overseas to Ireland.
Once people learned how to believe in something, that skill started spilling over to other parts of their lives, until they started believing they could change. Belief was the ingredient that made a reworked habit loop into a permanent behavior.