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...dramatic and inspirational recasting of the American Dream. "Right now, the people going through this tragedy are in the process of reordering their lives, re-evaluating their place on earth, and trying to find a larger meaning," says a New Paltz, N.Y., psychologist indirectly hit by Madoff. Let's call him Dr. K. His parents, who live in Boca Raton, Fla., had their retirement millions wiped out. "My parents are now grateful for the things they do have," he says. (See the top 10 scandals...
...customer who once spent $10,000 to $15,000 on the tables is now spending maybe $5,000. And other customers are shopping around. "They know they can get a deal," Shalala says. "They used to call up, asking for a table at a club, not caring what it cost. These days they're saying, 'Well, I can get a table at another hotel for $1,000.'" Though Shalala hasn't dropped rates drastically to attract customers, he does throw in extras like free concert tickets, promotional chips to spend in the casinos or discounts at the retail shops...
...more than a half-century, Studs Terkel, who died on Oct. 31 at 96, had an ongoing conversation with America. This elfin-looking man, usually dressed in a red-plaid shirt, ventured out into the unfamiliar with tape recorder in hand and spoke with people whom he liked to call the etceteras of the world. In his presence, they mattered. He knew they had something to say--about race, about class, about work, about hope, about community. About America...
...cease-fire proved to be untenable. "Calm for calm" - as Israelis call the agreement to simply refrain from military strikes and rocket fire - didn't work for Hamas, since it was unable to deliver economic relief to the long-suffering Palestinian civilian population. Indeed, the renewed campaign of rocket fire by Hamas was widely interpreted as a bargaining tactic aimed at securing more favorable truce terms, particularly lifting the economic siege. Israel, in the meantime, suffered from confusion in its goals. On the one hand, it wanted to destroy the Hamas government; on the other hand, it sought to coexist...
...spur the country's GDP, the Gongs are actually tightening up their wallets for a rainy day. The Chinese have been hardy savers even in the best of times, scoring the highest saving rate among all major countries. Now, more than ever, their money is sitting in banks, unspent. "Call it old-school if you will, but I think putting cash in a bank really is the safest form to keep money right now," says Gong. "And a lot of my colleagues would agree too." (See pictures of the global financial crisis...