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...many as 12% of all such loans could go bad in the next two years. So Corus is looking at a potential loss of $480 million. How much capital does Corus have to absorb those losses? Nothing. Nada. In fact, Corus is already is the hole for $9 million. Call the failure hotline; we've got a live one, just barely...

Author: /time Magazine | Title: Financial Woes Spread to Smaller Banks | 5/22/2009 | See Source »

...have restored the family to its former glory. Instead he shows up with Larita, a race-car-driving native of Detroit who doesn't want to play lawn tennis, is a fan of Lady Chatterley's Lover and demands to know the cook's name ("Cook, I can't call you by a verb...

Author: /time Magazine | Title: Easy Virtue: Jessica Biel Shakes Up the Brits | 5/21/2009 | See Source »

...great-great-granddaughter of slaves now occupies a house built by them, one of the most professionally accomplished First Ladies ever cheerfully chooses to call herself Mom in Chief, and the South Side girl whose motivation often came from defying people who tried to stop her now gets to write her own set of rules...

Author: /time Magazine | Title: The Meaning of Michelle Obama | 5/21/2009 | See Source »

...primaries especially, she was too hot, and not in the way Maxim means it. She talked about America as being "just downright mean," and lazy, and cynical, how life for most people had "gotten progressively worse throughout my lifetime." Seeing an opportunity, conservative critics dubbed her Mrs. Grievance, called her bitter and anti-American, to the point that her husband had to defend her patriotism and call the attacks on her "detestable...

Author: /time Magazine | Title: The Meaning of Michelle Obama | 5/21/2009 | See Source »

Some locals jokingly call Herat the "Dubai of Afghanistan." The nickname is a stretch, but the mini-boom taking place in this commercial capital is borne out by 24-hour electricity and pothole-free streets where people wander without fear of the random violence that afflicts other urban centers in the country. Who gets the credit? Much of it goes to Iran, which lies less than a hundred miles to the west and is moving closer...

Author: /time Magazine | Title: Iran's Spending Spree in Afghanistan | 5/20/2009 | See Source »

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