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...problem with the credit-card industry isn't just credit-card companies - it's you too. This week the Senate takes up a bill that would seriously clamp down on some of the industry's most unsavory practices, a piece of legislation that President Obama has said he wants on his desk by the end of the month. The bill, which builds on rules issued by the Federal Reserve Board and other agencies at the end of last year, would do away with interest-rate hikes on existing balances, prohibit issuers from putting customer payments toward lower-rate balances first...

Author: /time Magazine | Title: The Real Problem with Credit Cards: The Cardholders | 5/12/2009 | See Source »

...Next up: Congress is moving ahead with a special 'cash for clunkers' program that is supported by a broad coalition of auto dealers, trade unions, finance companies and auto manufacturers. The nearly completed bill, which President Obama has indicated he will sign, offers consumers credits of $3,500 to $4,500 to trade in old vehicles for new, more fuel-efficient cars. The incentive is expected to cost the government $4 billion and to boost sales of new vehicles by one million units. "We believe this will play an important role in driving demand and stimulating sales," says Ray Young...

Author: /time Magazine | Title: Adding Up the Auto Bailout: $80 Billion and Growing | 5/11/2009 | See Source »

...good guys in the game. But his Pistons were, in fact, very bad. Isiah Thomas manipulated his mates. Bill Laimbeer whined, flopped, and was, rightfully, despised throughout the NBA. Dennis Rodman, though not yet blonde, pierced, and cross-dressing, was a dirty player. Yet Daly knew that if Detroit wanted to win a championship, he had to let the Boys by Boys. He permitted Isaiah to control the ball, because Daly realized that would keep his point guard happy and insanely productive. He knew the Pistons fed off Laimbeer's antics, so go ahead Bill, be an a--hole. Daly...

Author: /time Magazine | Title: Basketball Legend Chuck Daly (1930-2009) | 5/11/2009 | See Source »

...Golden Globe and Independent Spirit awards for The Deep End, as a middle-class mother frantically trying to protect her son and the status quo. And she's scary-good as two underclass drabs: a fishwife having a torrid, ruinous affair with Ewan McGregor in Young Adam, or Bill Murray's ex-girlfriend, now trailer trash, in Jim Jarmusch's Broken Flowers. (She also has a few moments in Jarmusch's new film The Limits of Control...

Author: /time Magazine | Title: Why Tilda Swinton is the Queen of the Indies | 5/10/2009 | See Source »

...Orwellian twist, the drafters of the bill, which is being called the law "Against the Rehabilitation of Nazism," have said they modeled it on the various forms of Holocaust-denier legislation that exists in Austria, Germany, Belgium and France. But critics point out that the law banning denial of the Holocaust is designed to protect the memory of the Jews and other ethnic groups killed by Nazi forces and their supporters. Russia's new bill, however, would stop anyone reexamining a history fraught with half-truths and lies propagated by the Soviet government, then carried into the present...

Author: /time Magazine | Title: Russia Moves to Ban Criticism of WWII Win | 5/8/2009 | See Source »

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