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...Dream It's Over It wasn't meant to turn out this way. The new Russia was supposed to replace poverty and money worries and grumbling mothers with places like Rusfinance, a Moscow call center that transports you from the gritty streets and auto-parts stores outside into a world of cheery beige furnishings, swirling red-and-gold patterns on the walls and easy credit. Here, 450 people - mainly women in their 20s - sit side by side in booths and field calls from Russians wanting to borrow money. Most of the time the answer they give is a resounding...

Author: /time Magazine | Title: Russia's Big Chill | 12/11/2008 | See Source »

...recent Wednesday, 432 people have called in. Nadezhda Kumyiny is one of them. She's phoning from a small village in the Kursk region, southeast of Lyudinovo. She wants to borrow 30,000 rubles - just over $1,000. The woman taking her call fills in the details on a screen. Experienced call-center workers can process a request and grant pre-approval in under six minutes, but Kumyiny can't remember her zip code, which slows everything down. Watching over the process is deputy operations director Viktoriya Selezneva, who says the economic crisis has yet to arrive. "The volume...

Author: /time Magazine | Title: Russia's Big Chill | 12/11/2008 | See Source »

...only on the first of December that we finally got formal permission - from the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER) - to call what the U.S. economy is experiencing a recession. Just a few days later, after the Labor Department announced that U.S. employers shed 533,000 jobs in November and 1.2 million since August, some were agitating to ditch the R word and replace it with the more ominous D one. "Shall we call it a depression now?" asked former Labor Secretary Robert Reich. "The threat of a widespread depression is now real...

Author: /time Magazine | Title: Don't Say the D Word | 12/11/2008 | See Source »

...didn’t the mayor call for this study when colleges and universities were on better financial standing?” Jon Romano, a Flaherty spokesman, wrote in an e-mailed statement. “Perhaps if we had done this work before, our city—and its budget—would be better prepared to endure the current economic downturn...

Author: By Peter F. Zhu, CRIMSON STAFF WRITER | Title: City To Look at School Payouts | 12/11/2008 | See Source »

...like those of a “BNP thug”—or, to put it in American, a Neo-Nazi skinhead. “The Obama Nation: Leftist Politics And The Cult of Personality” by Jerome Corsi: It’s no exaggeration to call this extra-long political pamphlet a labor of pure hate. It was born out of one purpose: to sink the ship of Obama like Corsi did to that of John Kerry four years before. But unfortunately for him, his allegations about Obama’s “extensive connections...

Author: By Sanders I. Bernstein, CRIMSON STAFF WRITER | Title: Four Projects of Hate in the Year Of Hope | 12/11/2008 | See Source »

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