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Call it the international house of pancaked leverage, built on the proliferation of subprime and exotic mortgages that did away with many of the safeguards built into the classic 30-year fixed rate with a 20% down payment. Riskier loans originally designed for a narrow band of home buyers--interest only, adjustable rate, balloon payment, no documentation (of income, that is)--took off broadly in the last rising market, and Denver was one of the many areas where they were...

Author: /time Magazine | Title: Ground Zero of the Real Estate Bust | 8/16/2007 | See Source »

...including Richard Pryor and George Carlin, whose careers he helped launch. He laughed at his guests' jokes, gushed at their stories, joined them in songs--perfecting an easygoing, unironic manner that was seemingly impervious to the winds of change. Far more than a TV personality, though, the former Big Band singer was also a creator and entrepreneur. In 1964 he came up with Jeopardy! (A jack of all trades, he wrote the theme music for the Final Jeopardy answer as well.) A decade later, he invented history's most successful game show, Wheel of Fortune. When he died...

Author: /time Magazine | Title: The TV Mogul with the Common : Merv Griffin | 8/16/2007 | See Source »

...Sharpay is not really that bad; she just wants too much. Nobody is that bad in this world--not the popular kids, not the ditzy parents, not the overworked authority figures--and that's its charm. Everyone--band geek, hoop star, rich kid--stands side by side for their curtain call. Whether high school is in front of you or long behind, who wouldn't want to believe that story...

Author: /time Magazine | Title: Once More, with (Chaste) Feeling | 8/16/2007 | See Source »

...goofy affair under the best of circumstances-had gone fatally exotic. Paul had one of the largest groups of supporters. So did Kansas Senator Sam Brownback, who provided a massive air-conditioned tent that looked something like the Denver airport and featured nonstop evangelical preachers and a Christian rock band that strip-mined Stevie Wonder for songs like Signed, Sealed, Delivered, Jesus, I'm Yours. Colorado Congressman Tom Tancredo's promise that he would actually deport 20 million illegal immigrants seemed to have toxic allure for many of the alleged 30,000 Republicans assembled. Congressman Duncan Hunter gave away...

Author: /time Magazine | Title: Romney's Edge | 8/15/2007 | See Source »

...Iowans, including Taylor, even chose the milder brand of Christian conservative, former Arkansas Governor Mike Huckabee (with 2,587 votes), over Brownback (2,191). Huckabee, a Baptist preacher, went easy on Jesus in his tent, performing Devil in a Blue Dress, among other secular classics, with his rock band, the Capitol Offense. (I thought his bass playing was pretty solid...

Author: /time Magazine | Title: Romney's Edge | 8/15/2007 | See Source »

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