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...foreign currency loans make up 62% of all household debt, up from 33% three years ago. Home owners across the region now face massive debts that they simply will be unable to pay back. "What's happening in these countries is a tragedy," says Christensen. (See 25 people to blame for the financial crisis...

Author: /time Magazine | Title: The Economic Crisis Hits Eastern Europe | 2/25/2009 | See Source »

...housing. Some low-income residents are finding fire-sale deals, but many more are not; just this past weekend, Fort Lauderdale police had to be called in for crowd control when 5,000 people lined up to get on a waiting list for subsidized housing. (See 25 people to blame for the financial crisis...

Author: /time Magazine | Title: Despite the Crash in Prices, Affordable Housing Still Lacking | 2/25/2009 | See Source »

...Only the Pentagon could turn a $60 million helicopter - the European-made EH-101 - into a $480 million whirlybird. The Pentagon's Defense Science Board, in a report released earlier this month, didn't mince words in assigning blame for the fiasco. "The schedule was acknowledged at the start to be high-risk and very aggressive," it said, "driven by post-9/11 global war on terror urgency." The costs started climbing as the White House informed the Pentagon and its contractors of its wish list of encrypted video, telephone and electronic capabilities that it wanted aboard the new birds...

Author: /time Magazine | Title: How the White House Choppers Spiraled Out of Control | 2/25/2009 | See Source »

...people to blame for the financial crisis...

Author: /time Magazine | Title: Obama's New Daily Briefing: Economic Intel | 2/25/2009 | See Source »

...from the trendy Eastern Berlin district of Prenzlauer Berg, where in recent weeks an ongoing battle against gentrification has intensified. In the past two months alone, 29 cars - mostly luxury brands like Mercedes, BMW and Porsche - have been set ablaze in Berlin (police believe left-wing extremists are to blame). In a letter published online in January, a leftist radical group called BMW (Bewegung für militanten Widerstand, or Movement for Militant Resistance) admitted to having set eight cars on fire, as a protest, the statement said, against the restructuring of formerly low-income neighborhoods, which...

Author: /time Magazine | Title: In Berlin, a Gentrifying Neighborhood Under Siege | 2/25/2009 | See Source »

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