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Rajaram had even been lucky just before California's housing bubble burst, according to his former Northridge neighbor and real estate agent Sue Karns. He sold his home two years ago for $750,000, making a sizable profit on the property he and his wife had purchased in 1997 for $274,000, according to The Los Angeles Times. He then moved to the Sorrento Pointe house, planning to rent for a few years before buying again...

Author: /time Magazine | Title: Murder-Suicide in California: A Tragedy of the Financial Crisis? | 10/8/2008 | See Source »

...played loveable, but flawed, characters. Do you ever have a desire to go totally in the opposite direction? I don't call my agent and say, 'Find me a guy that is a wacko or a drug addict.' Good scripts and interesting stories are hard enough to find...

Author: /time Magazine | Title: Greg Kinnear | 10/2/2008 | See Source »

...comes the hangover as the middle class gets squeezed by soaring living costs - India's annual inflation rate is running at about 13% - and more expensive debt. Navtej Singh, a 48-year-old property agent in the northern state of Haryana, was horrified last month when the interest rate he pays on a $15,000 adjustable-rate home loan jumped from 9% to 12%. "There's no way I can [pay] that," he says. "I'll probably have to borrow from friends or relatives and curtail household expenses." Srinivas says a lot of people are in similar straits...

Author: /time Magazine | Title: The Wages of Consumerism | 10/2/2008 | See Source »

...markets that slower growth is a good thing - it might help get inflation under control - but the public isn't cheered. Opening this month is a new movie titled EMI, which stands for "equated monthly installments," an Indianism for an installment loan. The plot follows a thuggish Mumbai collection agent who, after hearing the touching stories of the people he is paid to intimidate, decides instead to help them resolve their crises by teaching them that more money isn't always the answer. "We made a film about the real problem that is facing the Indian consumer," says...

Author: /time Magazine | Title: The Wages of Consumerism | 10/2/2008 | See Source »

...plan Schmidt developed for McCain called for the campaign to go on offense, with sometimes shocking moves that would begin winning weeks of news coverage. Call Obama an unprepared celebrity. Reintroduce McCain as a maverick and a change agent. Hit old Republican themes on taxes and spending. Run away from the record of Republicans in Congress and the White House. Make copious use of outrage and emotion. Rather than a single, unified message, Schmidt planned a multifaceted attack, which would be stitched together under the banner of "Country First," a phrase that both highlighted McCain's war-hero biography...

Author: /time Magazine | Title: What's Behind McCain's Nosedive | 10/1/2008 | See Source »

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