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...Roots of the Problem How did this happen, and why over the past 14 months have we suddenly seen so much to fear? Think of it as payback. Fear is so pervasive today because for years the financial markets - and many borrowers - showed no fear at all. Wall Streeters didn't have to worry about regulation, which was in disrepute, and they didn't worry about risk, which had supposedly been magically whisked away by all sorts of spiffy nouveau products - derivatives like credit-default swaps. (More on those later.) This lack of fear became a hothouse of greed...

Author: /time Magazine | Title: How Financial Madness Overtook Wall Street | 9/18/2008 | See Source »

...remains. Morales has far more political support than Goni, but the memory of military massacre still haunts Bolivian politics. Still, the pressure from his own support base may have prompted Morales to intervene in the wake of Porvenir. The sentiments expressed by Baqueros are typical: "People don't even fear the police anymore," she says. "The government has got to get tougher. Either they put an end to this madness or we will do it ourselves...

Author: /time Magazine | Title: A Brewing Civil War in Bolivia? | 9/17/2008 | See Source »

...Confused? You're not alone. The best case for the bailout seems to be that nobody has the faintest idea what the consequences of AIG's failure for financial markets would be, but the fear was that it could lead to total chaos. The biggest fears had to do with the credit-default swaps, which AIG appears to have sold in large quantities to practically every financial institution of significance on the planet. RBC Capital Markets analyst Hank Calenti estimated Tuesday that AIG's failure would cost its swap counterparties $180 billion...

Author: /time Magazine | Title: Why the Government Wouldn't Let AIG Fail | 9/16/2008 | See Source »

...immediate aid, while infrastructure has suffered an estimated $4 billion worth of damage from Hurricane Ike alone. In light of the magnitude of these numbers, the additional offer of a mere $9.5 million by USAID to hurricane relief in the island nations rings hollow. Americans, so preoccupied by the fear of damage to New Orleans yet again, sadly seem to have forgotten the many Caribbean islands literally in the path of the storm. This domestic anxiety may, in part, be attributed to the remaining fears about our own disaster relief preparedness. The United States’ near avoidance of disaster...

Author: By The Crimson Staff | Title: A Lesson Learned? | 9/16/2008 | See Source »

...Addressing independence day celebrations on Tuesday, Calderon called for national unity against the cartels, and said he would not retreat from his offensive. "It was a miserable attack against defenseless people, celebrating our national fiesta with peace and pride. When they try and sow fear for their own ambitions, it is not one person or group who suffers the consequences but all Mexicans," he said from Mexico's towering Independence monument. "We need unity. We need to all rally round the government to stop these criminals...

Author: /time Magazine | Title: Terror Bloodies Mexico Celebrations | 9/16/2008 | See Source »

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