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...Under the Treasury Department's program, up to $75 billion will be spent in an effort to prevent as many as 9 million people from losing their homes. "Much of this money is going directly to the same financial institutions that helped create the subprime-mortgage mess in the first place," said Bill Buzenberg, executive director of the Center for Public Integrity, in a statement...

Author: /time Magazine | Title: Subprime Lenders Head the Line for Federal Subsidies | 8/28/2009 | See Source »

...support he or she needed at the end. Yet it was the idea that doctors should be encouraged to talk to patients and their families about their wishes that set off a firestorm this summer, one of the most disturbed and distorted debates in many years. The effort to talk about how we die was met with a fury of malice and mischief, the invention of government "death panels," the invocation of ghouls at your bedside judging whether you deserve the care you need...

Author: /time Magazine | Title: The Lessons of His Dying | 8/26/2009 | See Source »

...That's when Beijing stepped in. In an effort to restore confidence, piracy-prone China tightened controls to define exactly what should be considered real Puer. As of December 2008, only teas produced in Yunnan province's 639 towns and 11 prefectures and cities can be labeled "Puer." Branded tea must also be made with a certain type of leaf, using specified technology. Yunnan leaves aged outside the province are no longer considered authentic. The goal, officials say, is to protect Yunnan's heritage and build an internationally viable, niche brand...

Author: /time Magazine | Title: Puer Tea: China's Next Hot Commodity? | 8/25/2009 | See Source »

...April, after the Obama Administration released the Bush Administration's so-called torture memos, which provided the legal rationale for the tactics, Cheney demanded that it also release two CIA memos that, he said, would "show the success of the effort." Those memos, taken together with the unclassified inspector general's report into the CIA's interrogation program, would be the smoking gun that proved, once and for all, that harsh interrogation paid...

Author: /time Magazine | Title: Did the Harsh Interrogation Methods Actually Work? | 8/25/2009 | See Source »

...modification-mediation process before resorting to foreclosure.) John Mechem, spokesman for the Mortgage Bankers Association in Washington, D.C., argues the ordinance is "ill-conceived" because it would "encourage banks not to do business [in] the city, which would limit competition." But even if it doesn't pass, the effort reflects the impatience many communities have with the banks they believe helped lure them into the housing horror. And it echoes the Obama Administration's exasperation. Treasury Secretary Timothy Geithner recently chided banks for their poor loan-modification performance: so far only 9% of the 3 million-plus at-risk mortgagees...

Author: /time Magazine | Title: How One City May Punish Banks for Foreclosures | 8/25/2009 | See Source »

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