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...balance sheets repaired, set about lending again to qualified individuals and businesses, providing the economy with the seed corn it needs to grow. Then, a couple of weeks ago, Secretary Paulson said that that wasn't going to be how the TARP funds would be used. He announced, in effect, that the TARP was going to be rolled up, having not spent some $300 billion in funds that Congress, after much drama, had allocated. Then Citibank teetered, and out came the TARP again, this time in pretty much its original guise: to ring-fence the toxic assets on Citi...

Author: /time Magazine | Title: A Letter to My Friend Tim Geithner | 12/3/2008 | See Source »

...institutions (MFIs) scaling back expansion plans and, in some cases, raising interest rates as a result of the credit-spread increase and the rising cost of borrowing. Certainly, no one is taking their existing funding relationships for granted. My concern is that we have only begun to see the effect of the triple threat of finance, fuel and food issues on microfinance...

Author: /time Magazine | Title: Microfinance Still Hums, Despite Global Financial Crisis | 12/3/2008 | See Source »

...Continuing to raise global awareness of microfinance as a viable way to invest in poor women entrepreneurs and fight poverty around the world is our overarching goal. And the focus on women is really key not only for economic empowerment and empowerment reasons, but also because of the multiplier effect on economies and communities, since women reinvest their profits back into their communities at greater rates than men. One of the products we're developing that I'm most excited about is a pilot program for savings targeting young women and adolescent girls that we're working on with...

Author: /time Magazine | Title: Microfinance Still Hums, Despite Global Financial Crisis | 12/3/2008 | See Source »

...stop themselves. There was nothing to stop Senator John McCain from using his wife's jet to make dozens of campaign stops this year, contravening but not breaking election laws because he, or at least Mrs. McC, "owned" the aircraft through a family company. (Read "The Ripple Effect of a Potential GM Bankruptcy...

Author: /time Magazine | Title: Why the Big Three Should Fly Corporate Jets | 12/3/2008 | See Source »

...feel attacked and judged against. We should be able to police the threat of terrorism without making more than a billion Muslims feel that they have an enemy. And consider this: if you take the opposite approach, refusing to dig out terrorism by its roots, you are saying in effect that the jihad movement that affects every Muslim country is rootless. That makes no sense at all, and it will keep making no sense as long as we mistake killing terrorists for killing terrorism...

Author: /time Magazine | Title: How to Prevent Another Mumbai | 12/2/2008 | See Source »

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