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...what kind of shape will the rampage leave Calleja's checking account? "I"m still in the hole, but I feel O.K. about my spending - kind of, sort of," she says. Since she works in the real estate business, her job isn't safe. Still, she says, "you just have to delete that from your mind." This week, she'll start a part-time tutoring job to make some cash on the side. "Bottom line, you just have to keep living your life," she says...

Author: /time Magazine | Title: Are Shoppers Fed Up with the Recession? | 6/1/2009 | See Source »

...film Inherit the Wind, is at the turbulent center of the post-Madoff world, a world that includes multi-billion dollar feeder fund lawsuits, multi-million dollar deals with international banks, and, less grand, the issuing of multi-hundred thousand dollar checks to the nearly 7,000 direct account holders caught up in Madoff's massive Ponzi scheme. (See pictures of the demise of Bernard Madoff...

Author: /time Magazine | Title: Irving Picard at Center of Post-Madoff Storm | 5/30/2009 | See Source »

When it comes to paying Picard, the recovered funds will not be touched. Instead, SIPC will pay all fees and administrative costs related to the case from monies it receives from its member institutions, an account with some $1.6 billion...

Author: /time Magazine | Title: Irving Picard at Center of Post-Madoff Storm | 5/30/2009 | See Source »

...member countries of the OPEC cartel voted in Vienna on Thursday to maintain output at current levels rather than increase supplies in order to bring some relief to consumers, particularly in the gas-guzzling West. The OPEC oil ministers, whose countries account for about 40% of the world's entire crude-oil supply, also renewed their commitment to stick to their agreed quotas, rather than ship extra oil, as they began doing last April when several members ignored their agreed output limits. OPEC leaders, many of whose economies are heavily dependent on oil exports, have struggled to stabilize prices...

Author: /time Magazine | Title: Oil Is Plentiful, Demand Weak. Why Are Gas Prices Going Up? | 5/29/2009 | See Source »

...that he'd known Letizia only through her parents, and the father declared his daughter "chaste," saying Berlusconi was an acquaintance he had made through local politicians. But the center-left daily La Repubblica and opposition leader Dario Franceschini have hammered away at inconsistencies in the Prime Minister's account of his relationship with the family. Then on Thursday, Berlusconi broke a long silence about the nature of his relationship with the teenager. (Check out an essay by Beppe Servergnini on Berlusconi...

Author: /time Magazine | Title: Berlusconi and the Girl: No Spice, Thank You | 5/29/2009 | See Source »

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