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...actually assign a lot of blame for our recent troubles on a lack of interest-rate caps - that is, on the absence of strict usury laws. Why? Almost every state had usury laws in the 1920s, and they were circumvented one by one. Prohibitions against excessive interest started to disappear [South Dakota, for instance, loosened its laws in 1980], and once they did, the credit-card companies recognized a wonderful opportunity. They could charge as much as the market would bear, claiming that they had to charge more for bad credit risks. You can argue that's the democratization...

Author: /time Magazine | Title: How Americans Got into a Credit-Card Mess | 8/8/2009 | See Source »

...only when financial institutions picked up on that and provided the methods whereby you could buy now and pay later - that very simple concept - that things started to change structurally. Now Americans are more highly leveraged than they were in the past. (See 25 people to blame for the financial crisis...

Author: /time Magazine | Title: How Americans Got into a Credit-Card Mess | 8/8/2009 | See Source »

...Ludwig reminds parents they are not solely to blame for their child's weight. Many other environmental influences - from fatty school lunches to fast-food ads - are simply outside parents' control. That doesn't mean they can't make a difference at home, though, by getting junk food out of the cupboards, limiting TV time and - most important - being good role models. "The tragedy that so often occurs is that parents, out of fear for their kids' health, make a bad situation worse by using coercive parenting practices," Ludwig says. In his book, Ludwig writes that forcing certain dieting rules...

Author: /time Magazine | Title: Is My Child Really Overweight? | 8/7/2009 | See Source »

...Whether or not it turns out to be justified, Russia and Georgia's blame game could have tragic consequences. During his recent visit to Tbilisi, U.S. Vice President Joe Biden stressed that "there is no military option to [South Ossetia and Abkhazia's] reintegration [into Georgia]," and according to Georgian National Security Council Secretary Eka Tkeshelashvili, Biden told him that the U.S. is now carrying out "preventive diplomacy so the situation does not deteriorate." But if what Russian Deputy Foreign Minister Karasin said on Wednesday is true and "no one can give us any guarantee that there will...

Author: /time Magazine | Title: One Year On, Could Russia and Georgia Fight Another War? | 8/7/2009 | See Source »

...polls. The mysterious death of an opposition political aide in July has compounded critics' concerns. In mid-July Teoh Beng Hock, 30, was found dead beneath the 14th story window of the Malaysian Anti-Corruption Commission offfices after a late night interrogation by officers, sparking national outrage. Opposition lawmakers blame the death on the MACC and accuse the authorities of unleashing the commission against them. Veteran opposition lawmaker Lim Kit Siang is demanding a Royal Commission of Inquiry into all the circumstances leading to Mr Teoh's death. "The people are entitled to know the whole truth," he told TIME...

Author: /time Magazine | Title: Why the Honeymoon is Over for Malaysia's New PM | 8/6/2009 | See Source »

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