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Such transactions were so attractive that from the late '90s until 2008, when the IRS stopped the practice, cross-border leasing schemes became commonplace in Germany. Between 150 and 200 cities and towns across Germany used such deals to finance everything from public transportation to sewage systems and garbage incinerators. "Back in 1997, no one warned us about the risks. You were considered crazy if you didn't join in," says Petra Reetz, a spokeswoman...

Author: /time Magazine | Title: German Cities Suffer in the U.S. Financial Crisis | 4/9/2009 | See Source »

...candidate, Barack Obama campaigned on a moderate mix of increased border security and a path to legality for long-term residents, but the economic crisis has pushed immigration reform off the White House agenda. At the end of March, Vice President Joe Biden told a summit of Latin American leaders that "it's difficult to tell a constituency while unemployment is rising, they're losing their jobs and their homes, that what we should do is in fact legalize [undocumented workers] and stop all deportation." Congress is similarly disinclined to tackle the controversies of reform this year, so the near...

Author: /time Magazine | Title: Despite Backlash, Illegal Immigrants Stay Put | 4/9/2009 | See Source »

There's just one problem: illegal immigrants aren't going, at least not yet. Their ties to their home countries have grown too tenuous; their investment in their off-label version of the American Dream is too great. Tougher border enforcement makes leaving a more final and difficult decision. They don't go home because they know they probably won't get to return. This has Americans in St. Helens, Ore., and elsewhere facing a set of decisions of their own: How hard should they press the case against illegal immigrants? And will putting more pressure on the undocumented...

Author: /time Magazine | Title: Despite Backlash, Illegal Immigrants Stay Put | 4/9/2009 | See Source »

...prevent their return to either country in the future." But accomplishing even that comparatively limited objective at this stage will require a massive and sustained U.S. Commitment - one that involves more than military boots on the ground. Al-Qaeda still thrives in the ungoverned tribal areas along the border between the two countries, and while many of its members have been killed, new recruits quickly take their place. U.S. soldiers have learned that to deny al-Qaeda a foothold in Afghanistan will require the establishment of a government that Afghans can believe in, the security that allows them to support...

Author: /time Magazine | Title: The U.S. in Afghanistan: The Longest War | 4/8/2009 | See Source »

...Pakistan. Commanders in Afghanistan say the battle next door will be far more complicated than anything they have seen, simply because the Pakistani military doesn't have the skills and resources to conduct an effective counterinsurgency. U.S.-operated Predator drones have successfully targeted al-Qaeda leadership in the border areas, but at the cost of inflaming the Pashtun-led insurgency on the Pakistan side. Stabilizing Afghanistan might well become crucial to preventing the far more terrifying prospect of an Islamist takeover in Pakistan. Says U.S. Army Brigadier General John Nicholson Jr., who commands U.S. and NATO troops in southern Afghanistan...

Author: /time Magazine | Title: The U.S. in Afghanistan: The Longest War | 4/8/2009 | See Source »

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