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...There are now, by most accounts, some $2 trillion taxpayer dollars at stake in the salvage programs in place or being considered, to save the national economy. The results of the failure of those plans are unimaginable. Almost no one living in America now was an adult during the early 1930s. It is impossible to imagine how 13% or 14% unemployment would affect the modern economy, just as there is no way to suss out what a 50% drop in housing prices from the 2006 peaks would do. Some economists believe that these problems will drive the nation into...

Author: /time Magazine | Title: AIG Reaction: Stupidity and the Alchemy of Chaos | 3/20/2009 | See Source »

...Citi finalized its bonus program shortly before the new rules were introduced. That might make the payments permissible, though they could be made almost worthless by new tax rules just passed by the House of Representatives and headed for consideration in the Senate. Even so, Citigroup's move in January to set in place bonus payments for years to come raises questions about whether it was trying to evade compensation rules it knew were coming...

Author: /time Magazine | Title: Citigroup Plans Big Bonuses Despite Rules Against Them | 3/20/2009 | See Source »

...were all shouting, ‘I’m from C-House,’ and everyone was so excited. One freshman almost had a heart attack,” said Gram, noting the rowdiness of some students. “But most freshmen were so excited by our nakedness, [that] they took off their clothes...

Author: By Edward-michael Dussom and Ahmed N. Mabruk, CRIMSON STAFF WRITERSS | Title: 2012 Gets New Home | 3/20/2009 | See Source »

Adding to the speculation is the fact that Putin and Medvedev's supporters are "almost in open conflict," says Petrov. "Medvedev's people are pretty openly criticizing Vladislav Surkov" - the deputy chief of staff in Medvedev's Kremlin who is a Putin loyalist...

Author: /time Magazine | Title: Signs of Tension Between Putin and Medvedev? | 3/19/2009 | See Source »

...swelling movement appeared to cause fewer logistical problems than did the near lock-down in January, when rail traffic and municipal transport was almost crippled, scores of flights were canceled, and countless schools and public administration offices remained shuttered. By midday on Thursday, 60% of France's high-speed TGV trains were still operating and 45% of regional rail service was functioning. Air France maintained 70% of its short- and medium-haul flights in and out of Paris' two airports, and long-haul service was normal. And while several provincial cities such as Lyon experienced considerable disruption of public transport...

Author: /time Magazine | Title: The Protests in France Get Personal | 3/19/2009 | See Source »

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