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Water Crisis Mortgage Fraud Political Dysfunction Algae Polluted Beaches Declining Crops Failing Public Schools Foreclosures...

Author: /time Magazine | Title: Is Florida the Sunset State? | 7/10/2008 | See Source »

Otherwise, there's trouble in paradise. We're facing our worst real estate meltdown since the Depression. We've got a water crisis, insurance crisis, environmental crisis and budget crisis to go with our housing crisis. We're first in the nation in mortgage fraud, second in foreclosures, last in high school graduation rates. Our consumer confidence just hit an all-time low, and our icons are in trouble - the citrus industry, battered by freezes and diseases; the Florida panther, displaced by highways and driveways; the space shuttle, approaching its final countdown. New research suggests that the Everglades is collapsing...

Author: /time Magazine | Title: Is Florida the Sunset State? | 7/10/2008 | See Source »

...Paradise Lost days, Hirschhorn worked the white-powder bar, representing Medellín cartel leaders and other cocaine cowboys. Then he wore a pinkie ring with a two-carat diamond; now he wears Brooks Brothers and defends fraud cases. "It's where the action is," he explains with a grin. An epidemic of inflated appraisals, exaggerated incomes, straw buyers - and the lax regulation to enable it all - has made Florida tops in mortgage fraud, according to the Mortgage Asset Research Institute; in a recent Palm Beach County case, a grocery cashier's salary was listed as $344,000 a year...

Author: /time Magazine | Title: Is Florida the Sunset State? | 7/10/2008 | See Source »

...Health Minister Chaiya Sasomsap for not declaring his wife's assets before taking office, as is required by Thai law. And on Tuesday, former speaker of parliament Yongyut Tiyapairat was banned from politics for five years when the Supreme Court upheld a lower court's verdict of electoral fraud...

Author: /time Magazine | Title: Legal Blows Imperil Thai Government | 7/10/2008 | See Source »

...This is not about mismanagement of a hedge fund. It is about premeditated lies to investors and lenders.' MARK MERSHON, head of the New York City FBI office, following the arrests of two former Bear Stearns managers on conspiracy and fraud charges...

Author: /time Magazine | Title: Verbatim | 6/26/2008 | See Source »

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