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Treasury agreed to backstop the companies to the tune of $100 billion each, in exchange for an ownership stake that will be determined by just how much money taxpayers have to pony up. The companies are to be operated as going concerns by the Federal Housing Finance Agency (FHFA), their...

Author: /time Magazine | Title: With Fannie and Freddie, the US Is Bailout Nation | 9/11/2008 | See Source »

Third, we need to integrate service into education. We should help schools develop service programs outside the classroom. And I've proposed an annual college-tuition tax credit of $4,000 in exchange for 100 hours of public service. You invest in America, and America invests in you--that's...

Author: /time Magazine | Title: Barack Obama: A Call to Service | 9/11/2008 | See Source »

Although Mugabe has reversed the ban on aid groups delivering food since the election, officials from those groups say the damage has already been done. Both the U.N. Food Agricultural Organization and the World Food Program expect that by early next year, more than 5 million Zimbabweans - about 45% of...

Author: /time Magazine | Title: Starvation Hovers over Zimbabwe | 9/9/2008 | See Source »

Although McCain was one of the last holdouts in his campaign for continuing the signature "Straight Talk" sessions, he now embraces a tightly supervised separation from the media pack. He has not held a press conference since early August, and reporters traveling with him can go days without seeing the...

Author: /time Magazine | Title: McCain's Bias Claim: Truth or Tactic? | 9/8/2008 | See Source »

What's the antidote to that kind of mass delusion? Shiller seems to have no interest in substituting his judgment, or the government's, for the market's. Instead, he sees information and innovation as the counter to group think. An active market in house-price futures and options--Shiller...

Author: /time Magazine | Title: Crash Master | 9/4/2008 | See Source »

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