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...bare room at his daughter's modest residence in the theological center of Qum, and refused to eat anything more extravagant than fruit, yogurt and rice. In contrast, his sarcophagus has now been enclosed within a gaudy green and white cage, with the floor inside filled knee-deep in cash, bills inserted as donations by the pious. Some visitors are so zealous they openly weep at the sight of the tomb, including a few of the grim-faced bearded...

Author: /time Magazine | Title: Has the Iranian Regime Forsaken Khomeini? | 9/29/2009 | See Source »

...times echoes certain practices that may have helped get us into the housing mess. For example, some state housing agencies are allowed to provide second mortgages to buyers who don't have enough money for a down payment so that they might "monetize" the tax credit and get the cash up front. Down-payment assistance is considered by many to have contributed to the crisis because it helped people buy homes they couldn't really afford. Anyone who doesn't understand that it's a bad idea to push people into buying houses when they're not ready to hasn...

Author: /time Magazine | Title: Should the Home-Buyer Tax Credit Be Allowed to Expire? | 9/28/2009 | See Source »

...most realms, in fact, the return to normality is under way. Banks are paying back TARP funds. Cash for Clunkers has faded into the sunset. The chairman of the Federal Reserve Board has declared the recession over, and home prices are inching upward...

Author: /time Magazine | Title: Should the Home-Buyer Tax Credit Be Allowed to Expire? | 9/28/2009 | See Source »

...then shut down a Hummer production line in South Africa. Hummer sales have dropped 64% so far this year, more than any other brand in what overall has been a disastrous year for new-vehicle sales. In August, when sales of new vehicles got a boost from the cash-for-clunkers programs, Hummer sales continued to sink, falling 61%. In 2006, Hummer's best year, GM sold more than a 70,000 but this year it might sell only 10,000 units. "Hummer is not much of a priority for GM," says Alan Baum, a Detroit-based analyst and consultant...

Author: /time Magazine | Title: Could Hummer Be Headed for the Heap? | 9/28/2009 | See Source »

...Powell, who died Sept. 14 at 65, was the cooler of Jimmy Carter's two top young aides. (Hamilton Jordan was hotter, more passionate.) Powell was an excellent press secretary--funny, unflappable, totally devoted to the boss. He was the descendant of nine Civil War veterans and, as W.J. Cash wrote, he exemplified the breed: slouching, joking, undisciplined and brilliantly lethal...

Author: /time Magazine | Title: Jody Powell | 9/28/2009 | See Source »

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