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...real estate markets began to decline and where the most subprime loans where made, he was a client of Countrywide. He got a $250,000 mortgage five years ago, He did not have to put a nickel down to get the loan. The value of real estate in Stockton, California, where he bought his home had been rising at 10% a year for four years. He was a good credit risk not because of his income but because the value of the asset he bought was bound to go up 100% by the end of this decade. Two months after...

Author: /time Magazine | Title: Finding the Man Who Started the Global Recession | 2/2/2009 | See Source »

Just about the time that eight babies began growing inside a California woman's womb, some nationwide policies about fertility treatment were being codified. In June, the American Society for Reproductive Medicine (ASRM) issued updated "Guidelines on Number of Embryos Transferred." Women under age 35 - the octuplets' mom is reportedly 33 - should attempt to transfer no more than two, and preferably only one, fertilized embryo at a time. Women over age 40 should attempt no more than five. (See pictures of multiple births...

Author: /time Magazine | Title: Octuplets Fallout: Should Fertility Doctors Set Limits? | 2/2/2009 | See Source »

...California woman, apparently a single mother who already has six young children, including a set of twins, got pregnant is the subject of rampant speculation. But regardless of whether the octuplets are the result of in vitro fertilization (IVF) or fertility drugs - the latter has historically been available on the cheap in Mexico - there is little doubt that from a medical and ethical perspective, something went very wrong. And fertility specialists now find themselves on the defensive, trying to fend off the perception that theirs is an undisciplined, irresponsible profession. (See five truths about health care in America...

Author: /time Magazine | Title: Octuplets Fallout: Should Fertility Doctors Set Limits? | 2/2/2009 | See Source »

...Richard Paulson, director of the fertility program at the University of Southern California, helped write the original professional recommendations regarding embryo transfer. Although he decries the birth of triplets, he's irritated at calls to legislate assisted reproduction. Doctors aren't the problem, he contends; laws are. Some European countries limit the number of embryos transferred, but that doesn't allow for physicians to take into account individual medical histories; generally, the older the patient, the less likely embryos will implant...

Author: /time Magazine | Title: Octuplets Fallout: Should Fertility Doctors Set Limits? | 2/2/2009 | See Source »

...California octuplets are only the second set to be born in U.S. history. "We're picking out this incredibly rare event, and all of a sudden, we want to pass laws," says Paulson. "Would we write laws limiting the size of someone's family to six? Would we write laws mandating selective reduction?" he asks, referring to the option of aborting some embryos if a high number successfully implant in the uterus. "Restricting reproductive rights would be a minefield...

Author: /time Magazine | Title: Octuplets Fallout: Should Fertility Doctors Set Limits? | 2/2/2009 | See Source »

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