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There has been little definitive discussion of the actual benefits of the Treasury's new program that will fund the purchase of toxic assets from banks using federal money, and then allowing private money managers to purchase and trade this paper. There has only been speculation about the outcome, and that has been over a broad range. Prominent economists, led by James Galbraith and Paul Krugman, have said that the plan may actually do more harm than good. In the Treasury's corner, Pimco, the largest fixed income management firm in the U.S., endorsed the Administration's plan. "This...

Author: /time Magazine | Title: Why the Market Rally Is Like Waiting for Godot | 3/24/2009 | See Source »

Amman, Jordan Jordan has a U.S.-educated King and depends substantially on U.S. handouts. It is also, as Hooper points out, "in the heart of the Arabic-speaking world" - literally and symbolically. It has direct links with the Middle East's most problematic places: the West Bank (more than half of Jordan's population is of Palestinian origin), Israel, Iraq and Syria. It has also struggled with terrorism; Abu Musab al-Zarqawi, founder of al-Qaeda in Iraq, was Jordanian...

Author: /time Magazine | Title: Behind Obama's Speech to the Muslim World | 3/24/2009 | See Source »

...There's a good reason why Thomas, 24, doesn't give out his last name: he is concerned that his bosses at a nearby bank may not like his unconventional hiking attire, consisting of shoes, socks, a backpack - and nothing else. Thomas isn't just some nature nut in a birthday suit - he's one of a growing number of hikers who make the pilgrimage to Appenzell specifically so they can trek in the nude. (See pictures of skiing...

Author: /time Magazine | Title: Another Reason to Visit Switzerland: Hiking in the Nude | 3/24/2009 | See Source »

...rumor briefly circulated Hungary a few weeks ago: things were so bad, it went, that the government intends to freeze bank accounts. The government repeatedly assured Hungarians that the rumor was groundless. But so deep is the current economic malaise gripping the country that thousands of people were taken...

Author: /time Magazine | Title: Is Hungary the Financial Crisis' Next Iceland? | 3/24/2009 | See Source »

...years, the statute of limitations for burglary cases. Police will continue to keep an eye on them, hoping to be led to the loot. But with the brothers' arrest warrants suspended, they are free to travel, and the authorities cannot tap their phone lines or keep tabs on their bank accounts...

Author: /time Magazine | Title: Despite DNA Evidence, Twins Charged in Heist Go Free | 3/23/2009 | See Source »

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