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...complex, and it's hard for nonexperts to follow which proposals for a derivatives clearinghouse or systemic risk council have teeth and which are sops to the industry. One political attraction of the CFPA is its simplicity: you're for it or against it. After sketchy subprime mortgages helped crater financial markets, even laissez-faire ideologues like Alan Greenspan called for stronger regulations to curb abuses and stabilize the system. And given the well-documented outrages pervading the industry these days - exorbitant overdraft fees, late fees, nuisance fees and balloon payments buried in opaque legalese, slimy yield spread premiums that...

Author: /time Magazine | Title: The Case for a Consumer Financial Protection Agency | 2/17/2010 | See Source »

...gunfire. The last bomb brought down much of the ceiling all around us. As the dust swelled we shuffled into the basement; a girl, maybe 5 years old, bloodied in the face and moaning, was carried down the stairs. Outside, halfway between the checkpoint and the hotel, a crater 6 ft. (1.8 m) deep smoldered. All told, 37 people were killed and close to 100 wounded in the attacks, which came amid rancorous sectarian debate over Iraq's looming elections. Looking back, I'm gripped by the scent of oranges cutting through the smell of charred vehicles and flesh: tart...

Author: /time Magazine | Title: The Moment | 2/8/2010 | See Source »

Outside, halfway between the checkpoint and the hotel, a 6-ft. (1.8 m) deep crater smoldered. It could have been worse. According to one of the hotel's security officials, the driver of the suicide vehicle was shot before he could reach the front of the Hamra. The white minibus was apparently detonated remotely, an insurgent fail-safe that adds credence to the fears that the most recent of the coordinated car-bomb attackers are showing increasing sophistication. As the crowd of witnesses and Iraqi rescue workers grew, Iraqi police attempted to interdict the journalists. "Let them take pictures...

Author: /time Magazine | Title: In the Middle of the Baghdad Hotel Attacks | 1/26/2010 | See Source »

...Edwards' future depends on what he wants to do. If he's set on being in the public eye, he's leaning into a stiff wind. If he just wants to do public service, he'll be fine. Before he drove his career into a crater for an astrology-spouting blonde, he had a good record on fighting poverty, and the media can be relied on to ignore him if he continues to work on that issue. He, among many others, went to Haiti this week, without cameras. John Edwards may never be liked again, but with...

Author: /time Magazine | Title: Can John Edwards' Dreadful Image Be Rehabilitated? | 1/23/2010 | See Source »

...jewelry," notes John Rowan, an analyst at Sidoti & Co. He says the three publicly traded pawnshop companies - Cash America International, EZCorp and First Cash Financial Services - generated earnings that outperformed many other companies in the financial-services sector over the past year and a half. "They didn't crater like other industries did throughout the recession," says Rowan...

Author: /time Magazine | Title: Pawnshops Flourish in Hard Times, Drawing Scrutiny | 1/14/2010 | See Source »

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