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...record 7% this year. And the latest data from the European Central Bank show that despite the stimulus packages and bailouts across Europe, the region's banks still are not lending money. The volume of lending to the private sector in the eurozone, the 16 countries that use the common European currency, dropped 0.1% in February from the month before and lending to businesses also slipped 0.1%, the ECB reported...

Author: /time Magazine | Title: Why Berlin Says U.S. 'Bad Bank' Plan Is Bad | 3/30/2009 | See Source »

...frightening headlines in recent months. Like the other big banks, Citi received billions in aid from the government, and has been back to the government's well more often than most. Last month, the Treasury, along with private investors, agreed to convert some of their Citigroup preferred shares into common stock, which will strengthen the company's capital position. All told, the government has injected $45 billion into Citi by buying preferred shares; it has also insured the bank against losses on as much as $300 billion in loans and bonds. It is assistance the bank has needed. Citi lost...

Author: /time Magazine | Title: Citigroup's Mergers Business Is Still Thriving | 3/27/2009 | See Source »

...they studied the evidence, contradictions emerged that possibly should have raised red flags. The Phantom was not only a brutal killer - suspected of committing six homicides - but also a common thief. She had been involved in a car-dealership robbery and a school break-in, but in both cases others convicted of those crimes denied her existence...

Author: /time Magazine | Title: Germany's Phantom Serial Killer: A DNA Blunder | 3/27/2009 | See Source »

...winter descends. Americans are, bless us, energetic grasshoppers as well as energetic ants, a sui generis crossbreed, which is why we've been so successful as a nation. Our moxie comes in two basic types. We possess the Yankee virtues embodied by the founders: sobriety, hard work, practical ingenuity, common sense, fair play. And then there's our wilder, faster and looser side, that packet of attributes that makes us American instead of Canadian: impatient, hell-bent, self-invented gamblers, with a weakness for blue smoke and mirrors. A certain fired-up imprudence was present from the beginning...

Author: /time Magazine | Title: The End of Excess: Is This Crisis Good for America? | 3/26/2009 | See Source »

...back and forth between its steady and skylarking aspects, so does our national history run in cycles, as writers have noted almost from the beginning. And so once more we are making the periodic shift from an unfettered zeal for individual getting and spending to a rediscovery of the common good, from "the business of America is business" seeming inarguably true to sounding narrow, callous, a little crazy...

Author: /time Magazine | Title: The End of Excess: Is This Crisis Good for America? | 3/26/2009 | See Source »

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