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...Under current bankruptcy law, Porter says, bankruptcy courts have "no tools to reduce the principal, stretch out the payments or adjust the interest rate" - that is, since judges can't adjust mortgages to make them easier to pay, people end up ditching them instead...

Author: /time Magazine | Title: Personal Bankruptcies Hit a High and May Keep Rising | 4/5/2010 | See Source »

...Hello to Kettle The patronizing comment in "Iraq's Messy Democracy" that Iraqi leaders have "not yet learned to compromise" is unworthy of TIME [March 15]. Against which standard have you measured Iraq's leaders? Obviously not that of current U.S. leaders, who have had centuries to teach them how to compromise but who still can't get it right. Merv Montacute Fall City, Wash...

Author: /time Magazine | Title: Inbox | 4/5/2010 | See Source »

...Yawning Gap Anger on the streets is directed not only at current Prime Minister Abhisit Vejjajiva, an Oxford-educated economist, but also at an entire political and military establishment that many in the lower classes believe lives only to enrich itself at the common man's expense. For the red shirts it doesn't matter that Abhisit appears to be a rare clean politician in a country where politics and corruption seem as closely linked as mango and sticky rice. Nor is it significant to them that during his 15 months in power the Prime Minister has unveiled a raft...

Author: /time Magazine | Title: Thailand: Why the Reds Are in Revolt | 4/5/2010 | See Source »

...clerical sex abuse scandal in 2002. A new deluge of priest-pedophile stories, mostly in Europe, has cast another Good Friday pall over the resurrection celebration. This time some of the hierarchical cover-up may have even involved, if only indirectly, the man who would become the current Pope, Benedict XVI. And the Catholic Church's defensive response (as persecuted as the Jews?) has once again made it look like a dark fraternity in a Dan Brown novel instead of a luminous shepherd of souls, a self-interested corporation instead of the selfless ministry that Christ entrusted to St. Peter...

Author: /time Magazine | Title: Taking Up the Dr. Seuss School of Catholicism | 4/4/2010 | See Source »

...have never seen two elections that were alike," says Charlie Cook, editor of the nonpartisan Cook Political Report. For all the similarities between 1994 and 2010, there are important differences. The current wave of voter discontent started in August 2009, 15 months before the election; in 1994, it began just three months before Election Day. Only time will tell if the health-reform-inspired wave of hostility to the Democrats will fade by November or if the Republicans will manage to keep the issue alive. For Democrats, the challenge now is to turn the nation's attention back to other...

Author: /time Magazine | Title: Why 2010 May Not Be as Dire for the Dems as 1994 | 4/2/2010 | See Source »

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