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...housing program taken out and a bankruptcy provision that they argued was a giveaway to trial lawyers removed. They also got the Treasury Department to establish a federally backed insurance program for the debt - an alternative solution that is easier on the taxpayers but more expensive for the already cash-strapped banks - though the Treasury would not be required to actually use the program, and Paulson has expressed opposition to such a route...

Author: /time Magazine | Title: The Bailout Bill That Nobody Likes | 9/29/2008 | See Source »

...residents of the houses must be willing to participate in their HoCos and determine how to best spend this money. Whether this means standardizing the HoCo election process or allowing for more non-officer input, a larger group of students per house should become involved to best spend the cash in HoCos’ deeper pockets...

Author: By The Crimson Staff | Title: Fundamental Gain | 9/26/2008 | See Source »

...Instead, they are now actively pushing an alternative proposal floated by Congressman Eric Cantor of Virginia that would force Wall Street to pony up some cash at the outset. Rather than buying all those troubled mortgage assets from ailing banks and investment firms, Republicans say, the government should instead insure them, much as the Government National Mortgage Association does. This approach, they argue, would not cost as much, and would require Wall Street to pay the cost of its mistakes, through insurance premiums. "The main thing is to protect the taxpayer," said Georgia Republican Phil Gingrey. "We don't really...

Author: /time Magazine | Title: Can Congress Build a Better Bailout? | 9/26/2008 | See Source »

Before China's dairy industry imploded in a swirl of tainted products, milk was a cash cow. Investors flocked to buy stock from leading dairies Mengniu, Yili and Bright as a way to tap into the growing purchasing power of Chinese consumers and the country's rising dairy exports, which totaled $232 million last year. In rural China, poor farmers scrimped to buy cattle to boost their incomes, becoming part of the food chain serving the Chinese middle class's new taste for milk, butter and cheese...

Author: /time Magazine | Title: China's Tainted-Milk Scandal Spreads | 9/26/2008 | See Source »

...producers, such as the U.S. and Europe, and fail to help farmers in poor countries. When a crisis hits, as it did in Ethiopia this summer, the WFP typically asks governments to donate millions in emergency funds to feed people. That help comes either in food supplies or in cash, which the organization then uses to buy huge quantities of rice, maize and other staples from large-scale distributors. Aside from disasters like famines or earthquakes, the WFP also regularly feeds many poor people, including millions of children in school feeding programs; it estimates it will feed about 90 million...

Author: /time Magazine | Title: Can Bill Gates Help Africa Feed Itself? | 9/25/2008 | See Source »

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