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...which a single strike makes you a loser. And that brutality explains another strain of anger beginning to bubble up from the newly bankrupted. People like Paula Stevens and Joseph Zachery weren't flipping houses or lying on their loan applications. They didn't pile up mountains of credit-card debt. They worked hard for what they had and shared their modest portions with others. Each readily admits to making occasional mistakes with money, but even Warren Buffett has made occasional mistakes with money. Their bitterness stems from a feeling that they've held up their end of the social...

Author: /time Magazine | Title: House of Cards: The Faces Behind Foreclosures | 2/27/2009 | See Source »

...plans, work complaints, sleep complaints, dining hall complaints, praise for the caring professionals at UHS, and what biddy Michael K. Jaskiw ’09, recruited Caltech athlete, is grillin’. [1] Instead, students will learn to try new topics by discussing two randomly drawn Apples to Apples cards. Conversation will certainly steam up when someone draws the green card “tasty” and the red card “Helen Keller.” 4. Harvard students have been clamoring for a bona fide student union since before integration! Now is the hour to feed...

Author: By Daniel K Bilotti and Vincent M Chiappini, CONTRIBUTING WRITERSS | Title: May We Stimulate Your Expansion? | 2/24/2009 | See Source »

...than they ever have. This results from the fact that there are lots of American who don't really know how much disposable income they have. They've just been spending it. And all of a sudden they've woken up and found, 'I have $20,000 in credit card debt. All of a sudden I need to face consequences that are acute.' It's fundamentally healthy over the long term, but it's painful over the short term...

Author: /time Magazine | Title: How Consumers Shop Differently Today | 2/22/2009 | See Source »

...either lead to eternal punishment - i.e., hell - or time spent in purgatory, a place of suffering where imperfections are scrubbed away in preparation for entering heaven. Confession erases eternal punishment, but temporal punishment remains. Plenary, or full, indulgences are the equivalent of a get-out-of-purgatory-free card. Partial indulgences simply shorten your stay...

Author: /time Magazine | Title: Why Catholic Indulgences Are Making a Comeback | 2/22/2009 | See Source »

...JPMorgan Chase Loan losses: JPMorgan largely avoided the troubled subprime-lending game. Not so Washington Mutual, which JPMorgan acquired in 2008 in an FDIC-brokered deal. With housing prices still falling, many of those WaMu loans are going unpaid. JPMorgan has $105 billion in credit card loans, which could cost the company some $18 billion. And there is an additional $262 billion in corporate and commercial loans, which, according to Roubini, could tally $26 billion more in red ink. All told, it's a $97 billion loss for JPMorgan...

Author: /time Magazine | Title: Can Your Bank Pass the Stress Test? | 2/19/2009 | See Source »

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