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Increased use of securitization in the credit-card industry has fueled some if its growth. Over the past four years, seven of the biggest card issuers packaged more debt into securities, which they sold to investors, according to USA Today's assessment of banking records. But with credit-card defaults...

Author: /time Magazine | Title: With Defaults Rising, Is a Credit-Card Crisis Looming? | 11/14/2008 | See Source »

Clearly, demand for oil didn't fall that much, but the price of oil isn't
 set by demand alone. It's the product of an extremely volatile mixture of speculation, oil production, weather, government policies, the global economy, the number of miles the average American is driving in...

Author: /time Magazine | Title: What Caused the Big Slide in Oil Prices | 11/14/2008 | See Source »

As the U.S. financial sector began to teeter in September, South Korea's government believed that it was in a far stronger position than a decade ago. Its financial institutions seemed sturdy, with a mere $70 million of those toxic mortgage-backed securities that doomed banks in the U.S., while...

Author: /time Magazine | Title: A Depressed Mood | 11/13/2008 | See Source »

Beginning in mid-October, Lee sprang into action. The government earmarked $100 billion to guarantee new foreign debt for banks through mid-2009 in a bid to maintain the economy's access to foreign-currency borrowing. Shortly afterward, the Bank of Korea finalized a currency-swap agreement with the Federal...

Author: /time Magazine | Title: A Depressed Mood | 11/13/2008 | See Source »

For years the Chinese people have been willing to put up with an authoritarian government so long as it generated jobs and opportunities. Now, with the economy slowing, growth needs to be maintained, goes conventional wisdom, at a minimum of about 8% - in part to forestall the labor unrest that...

Author: /time Magazine | Title: The Moment | 11/13/2008 | See Source »

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