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Indeed, the numbers are eye-catching. As of Dec. 23, the latest date for which data are available from the Federal Reserve, bank lending, at nearly $6.7 trillion, was down $100 billion from the month before. In the past year, the volume of loans outstanding by banks in the U.S. has fallen by more than $500 billion. Bank loans have been trending down for a while. Worse, most analysts don't see bank lending turning around anytime soon. Paul Miller of FBR Capital says a combination of banks' wanting to take fewer risks and lower demand for credit from consumers...

Author: /time Magazine | Title: Bank Lending Is Still Down. Should We Be Worried? | 1/8/2010 | See Source »

...Barack Obama pledged to move toward the abolition of nuclear weapons in April 2009, replacing the Strategic Arms Reduction Treaty (START) was supposed to be the easy first step. But the 1991 agreement, which limits the number of long-range nuclear weapons in Russia and the U.S., expired on Dec. 5. And a replacement has yet to be agreed upon...

Author: /time Magazine | Title: Obama's Nuclear Arms Pledge Hits Stumbling Block | 1/7/2010 | See Source »

...military options against a guerrilla organization that has blended in with the local population and landscape. Air strikes and missile launches from afar run the risk of highlighting America's impotence rather than its might. On Dec. 17 and 24, joint Yemeni-U.S. strikes against purported AQAP training camps took place and killed more than 60 militants, U.S. intelligence officials claimed. It was initially hoped that the attacks had disposed of Wahishi, Shehri and radical cleric Anwar al-Awlaki, the cyber-pen pal of the accused Fort Hood shooter, Army Major Nidal Malik Hasan, but no evidence...

Author: /time Magazine | Title: Yemen: The Most Fragile Ally | 1/7/2010 | See Source »

...violence that broke out during the protest on Dec. 27 - the mourning day of Ashura, the most sacred date on the Shi'ite calendar - was seen by many experts as a possible turning point in the increasingly bitter struggle between the hard-line regime and the opposition green movement. Not only was it the first time that security forces opened fire had on protesters since last June's election sparked the mass antigovernment demonstrations, but the protesters also took unprecedented risks, attacking police with rocks and other weapons and leaving their faces uncovered. (Read "Iran's Hard-Liners...

Author: /time Magazine | Title: In Iran, a Diplomat Resigns Over Crackdown | 1/7/2010 | See Source »

...Lanka will hold its first postconflict presidential election on Jan. 26, in which Rajapaksa faces a stiff challenge from his former army commander, Sarath Fonseka. There has been some spirited journalism published during the campaign. On Dec. 13, the Sunday Leader carried an explosive interview with Fonseka in which he alleged that Gotabaya Rajapaksa, Sri Lanka's Defense Secretary, had ordered the shooting of surrendering LTTE members. Rajapaksa has denied the allegation, and Fonseka has since backpedaled on the allegation. Several news organizations have also reported on the burgeoning black market for rations distributed in displaced-persons camps. But with...

Author: /time Magazine | Title: Sri Lanka Journalists Still on Edge After Editor's Death | 1/7/2010 | See Source »

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