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Plus, Baker plans to stay put for a while. That also influences the math on how financially savvy it is to buy. The government mortgage agency Ginnie Mae has a rent-vs.-buy calculator on its website - using the default settings, buying starts to make sense after committing to stay for at least four years, although a lot of assumptions go into that calculation: everything from the property-tax rate to mortgage closing costs to the money spent on homeowner's insurance to the yearly home-price appreciation. If prices stay flat instead of going up 2% a year...

Author: /time Magazine | Title: Own-ward Bound? | 8/31/2009 | See Source »

...this country if we make it a bad thing for people to migrate from business into other activities like writing or philanthropy or public service." Goldman, he notes, has already paid back the $10 billion - plus $318 million in dividends and an additional $1.1 billion to buy back warrants (at above-market value, he adds) - that Paulson forced it to take last October from the $700 billion Troubled Asset Relief Program. Taxpayers' annualized return on their nine-month investment in Goldman Sachs? A cool...

Author: /time Magazine | Title: The Rage Over Goldman Sachs | 8/31/2009 | See Source »

...tony $27 million Manhattan apartment at "Wall Street's new power address," as the New York Times called it, 15 Central Park West. He also owns a 6,500-sq.-ft. (600 sq m) home in Sagaponack, N.Y., near the ocean. (See pictures of expensive things that money can buy...

Author: /time Magazine | Title: The Rage Over Goldman Sachs | 8/31/2009 | See Source »

That uncertainty is translating into savings. But before you put yourself behind the wheel, ask two big questions: Should I get a new or a used car? And should I lease or buy? The experts' short answers are the same as they've always been: it depends on your finances, what you want from a vehicle and your number-crunching acuity...

Author: /time Magazine | Title: The Clunker Debunker | 8/31/2009 | See Source »

...Indeed, Pakistan’s society is a living paradox, more so now than ever. On the one hand, there is the upper class. There is no comfort that money cannot buy, including security. Chauffeured cars and security guards keep these select few at ease in all situations. At the other end of the social spectrum are those who live on the increasingly perilous streets. Approximately 24 percent of Pakistan’s population lives under the poverty line, scrounging for basic necessities in the shadow of the elite...

Author: By Shareen P Asmat | Title: A Tale of Two Pakistans | 8/31/2009 | See Source »

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