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...bought or refinanced a house within the past year, there's a 1 in 4 chance you have the Federal Housing Administration to thank. The Depression-era agency, once the last resort of folks who were less-than-perfect credit risks, was practically forgotten during the real estate boom - anyone with a pulse qualified for a mortgage. Now the FHA has resumed its old role by propping up the housing market, since private lenders began shunning all but the least-risky loans. The FHA doesn't lend directly but rather entices lenders do so by agreeing to cover any losses...

Author: /time Magazine | Title: FHA: Housing's Safety Net Begins to Fray | 11/14/2009 | See Source »

...Many consumers are still in a frugal mind frame and can easily recall how retailers slashed prices up to 85% last November and December to unload huge inventories. At that time, shell-shocked retailers, rattled by the collapse of Lehman Brothers, the crisis at AIG and upheaval in the credit markets, pushed the panic button...

Author: /time Magazine | Title: Retailers Gear up for Black Friday | 11/13/2009 | See Source »

...care when such straightforward connections are created between music and plot. It is clear that “Pirate Radio” is a love letter to rock ’n’ roll’s golden era and its sweeping influence, complete with an end credit sequence displaying every major album of the last 40 years...

Author: By Brian A. Feldman, CONTRIBUTING WRITER | Title: Pirate Radio | 11/13/2009 | See Source »

...That means the government will likely have to rely on evidence that predates the 2003 waterboarding, as well as Mohammed's 2002 statement to al-Jazeera in which he took credit for the attack. Holder said at his press conference announcing the trials Friday that he has seen evidence previously unavailable that made him confident the prosecution will be successful. "If the government's going to prosecute Mohammed for 9/11, it will have diligently and thoroughly scrubbed the evidence to obtain certainty" that it can make the case, says David Laufman, a former prosecutor in the Eastern District of Virginia...

Author: /time Magazine | Title: Prosecuting KSM: Harder Than You Think | 11/13/2009 | See Source »

...wake of the financial crisis, prosecutors again hoped e-mail would point to wrongdoers. In mid-2008, the Securities and Exchange Commission released e-mails that seemed to show that analysts at credit-rating agencies understood that the mortgage bonds they were rating AAA were actually much riskier than that. An analyst wrote to a colleague, "Let's hope we're all wealthy and retired by the time this house of cards falters." However, no criminal charges have been brought against rating-agency officials. (See 25 people to blame for the financial crisis...

Author: /time Magazine | Title: The Bear Stearns Verdict: A Blow to E-Mail Prosecutions | 11/12/2009 | See Source »

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