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...thing of value that they had, their home, may currently be worth less than it was 20 or 30 years ago. The wealthy at least have opportunities to make money beyond their salaries whether it is by holding stocks, owning a private business, or being paid a performance bonus. That has probably allowed those people with high incomes who are defaulting on mortgages for expensive homes the reserves to make mortgage payments for a few additional months, if they are defaulting because they are out of work. (Read "Four Steps to Ending the Foreclosure Crisis...

Author: /time Magazine | Title: During a Recession, Being Rich Loses Its Luster | 5/8/2009 | See Source »

...affirming twist on this maxim of “all in the game” and live by that motto. As we close out this school year, it is my humble hope that this knowledge will be enriching for your life as well. Here’s an added bonus: inserting the phrase, “yo it’s all in the game” into your conversations, accompanied by a ruggedly philosophical facial expression and an easy shrug of the shoulders, will make you seem effortlessly cool. Try it right now! See? Pretty sweet. No need...

Author: By H. max Huber, CRIMSON STAFF WRITER | Title: Taking It to the House: A Fond Farewell | 5/7/2009 | See Source »

...stations; the bodies they were once attached to are sometimes hung from bridges and overpasses. A mass grave holding nine corpses was recently discovered outside the city, and in November students found seven bullet-torn bodies outside their elementary school. The next month, the narcos even began extorting Christmas-bonus money from teachers, warning they'd kidnap pupils unless they were paid...

Author: /time Magazine | Title: On the Bloody Border: Mexico's Drug Wars | 4/23/2009 | See Source »

...built on rock" formulation. "I don't think the banking community understands the scale of the damage that they've done to this society," says a senior Obama financial adviser. And another says, "They're in denial. They don't understand how angry people are about a $1 million bonus...

Author: /time Magazine | Title: Joe Klein on the President's Impressive Performance Thus Far | 4/23/2009 | See Source »

...overlay that with the fairly constant vilification of the agencies by politicians and the media. When word got out earlier this month that Fannie and Freddie were planning on paying out some $210 million in retention bonuses to 7,600 employers over the course of 18 months, lawmakers went haywire (Kellermann was pegged to receive a retention bonus of $850,000). "It's hard to see any common sense in management decisions that award hundreds of millions in bonuses when their organizations lost more than $100 billion in a year," Senator Charles Grassley said in a statement. Barney Frank, chair...

Author: /time Magazine | Title: Kellermann's Death Is Latest Shock To Freddie Mac | 4/22/2009 | See Source »

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