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...markets can still only guess the scale of losses incurred by banks caught up in the collapse of the U.S. subprime mortgage market. With those banks themselves still somewhat in the dark - even after writing down tens of billions of dollars linked to those soured mortgage loans - it's gotten harder for institutions and individuals to borrow money. Even the Federal Reserve seems spooked: the U.S. central bank early Tuesday slashed a key interest rate by 0.75% to 3.5%, the biggest cut in more than 20 years...

Author: /time Magazine | Title: The Fed Reacts to a Global Crisis | 1/22/2008 | See Source »

...Nevada could still get the last laugh. Because of the calendar contortions, Nevada's Democratic caucuses has gotten nearly 10 days of undivided press coverage. And with Clinton and Obama entering the contest with one win apiece in contested states, Nevada has suddenly become viewed as an important tiebreaker...

Author: /time Magazine | Title: Betting Big on Nevada | 1/18/2008 | See Source »

French President Nicolas Sarkozy has always made a point of insisting he won't be hog-tide by ideology, popularity polls, or enduring taboos in his efforts to reform France. But pundits have begun asking whether in reserving himself the right to say anything, Sarkozy hasn't gotten into the habit of contradicting himself by uttering just about everything. Indeed, in the past two weeks alone, various declarations by the president have proven so starkly at odds with one another that some observers are beginning to wonder if he isn't a touch, well, Sarkotic...

Author: /time Magazine | Title: Sarkozy's 'Sarkotic' Tendencies | 1/18/2008 | See Source »

There's a very thin line between being thrilled and being terrified, and Candice Feiring saw both emotions on her son's face. The sixth-grader had just gotten off the phone with a girl in his class who called to ask if he'd like to go to the movies--just the two of them. It sounded a whole lot like a date to him. "Don't I have something to do tomorrow?" he asked his mother. A psychologist and an editor of The Development of Romantic Relationships in Adolescence, Feiring was uniquely prepared to field that question...

Author: /time Magazine | Title: Young Love | 1/17/2008 | See Source »

...undergraduates are at it again—frantically browning their noses, that is—and no combination of office hours, extensions, and reference letters will shut them up. There’s a growing stack of graduate school applications to reject, and the wannabes that have already gotten through are hard-pressed to tie their own shoelaces, let alone grade exams, without professional help. The kids are back in school—thank God—but the damned hybrid doesn’t handle well in the snow.And you expect us to go to a Faculty meeting...

Author: By Adam Goldenberg | Title: Spectacular, Spectacular! | 1/17/2008 | See Source »

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