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Few are predicting that a CIT failure would cause as much havoc in the financial market as the bankruptcy of Lehman Brothers did last fall. CIT, which was founded 101 years ago, lends to hundreds of thousands of small businesses and also provides money to other firms, called factors, that...

Author: /time Magazine | Title: In CIT Woes, Some See Restart of Financial Crisis | 7/16/2009 | See Source »

MUMBAI, India - In the days after the Indian elections on May 16, until the finance minister’s speech on July 6, the nation discussed only one subject: the budget of the incoming government. The Congress Party, reelected to power after holding office for the past five years, had...

Author: By Ravi N. Mulani | Title: A Budget to Forget | 7/15/2009 | See Source »

When July 6 arrived, every station carried the budget address, delivered by finance minister Pranab Mukherjee. And the nation was in for quite a surprise. While Mukherjee did announce significant fiscal stimulus plans, expanding rural employment, and development programs, he did not mention any specific open-market reforms, such as...

Author: By Ravi N. Mulani | Title: A Budget to Forget | 7/15/2009 | See Source »

For someone offering few substantive changes, the finance minister seemed awfully proud in his speech, congratulating his party on avoiding the worst of the financial crisis. Yet, smug as he might have been, the reality is grim: According to the World Bank, in 2005 456 million Indians still lived in...

Author: By Ravi N. Mulani | Title: A Budget to Forget | 7/15/2009 | See Source »

Many schools, of course, have long used corporate partnerships to finance buildings and other facilities. From Fargo, N.D., to Worchester, Mass., banks and other companies have bought the naming rights to public libraries and high school football fields. The University of Wisconsin at Madison offers doctors and other health-care...

Author: /time Magazine | Title: Can Corporate Funding Save Endangered College Classes? | 7/14/2009 | See Source »

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