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...program, the banks would have submit those loans to so-called mark-to-market rules. That means the banks would have to take a write-down not just on the mortgage loans they sell, and get cash for, but on all of the mortgage loans on their books. Banks hold about $3.5 trillion in mortgage loans. So having to mark all those loans down $0.21, not just the ones that are sold, would be disastrous. (Read "Geitherner's Bank Plan: Only a Partial Solution...

Author: /time Magazine | Title: Geithner's Toxic-Loan Plan Could Be Toxic for Banks | 3/31/2009 | See Source »

...Lewis says he favors the theory that facial muscles influence brain activity directly and points to earlier research that suggests such a neurological link. For example, studies have shown that subjects find comedy routines significantly funnier when they hold a pen between their teeth the way a dog holds a bone, a pose that stimulates the muscles used for smiling. Similarly, subjects laugh less when holding a pen between their lips, a pose that mimics frowning...

Author: /time Magazine | Title: Wipe Away That Frown: Botox Makes You Happier | 3/31/2009 | See Source »

...have total control of the game once she’s on the mound,” co-captain Bailey Vertovez said. “If we get her just one run, she’ll hold on for the win.” In fact, there’s a lot about her that would be impressive for a veteran, let alone a rookie...

Author: By Dennis J. Zheng, CRIMSON STAFF WRITER | Title: ATHLETE OF THE WEEK: Pitcher Sets Precedent Early | 3/31/2009 | See Source »

...property prices are down as much as 50% since August of last year. But while there is some respite from the dawn-to-dusk hammering and drilling that came with Dubai's construction boom, some $8 billion in projects have now been either scrapped or put on hold. The city's notoriously brutal traffic jams have eased somewhat in recent weeks since the reported exodus of thousands of expatriates, who make up more than 85% of Dubai's population. The departures, however, could also be a sign of job losses: foreigners are generally not permitted to live in Dubai without...

Author: /time Magazine | Title: Dumping on Dubai: Have Hard Times Hit the Emirates? | 3/31/2009 | See Source »

...poverty, broken government promises and feelings of marginalization took hold of the Sunni community, all al-Qaeda and its allies had to do was wait. "The coalition and the Iraqi government told the people that the reason for their poverty was the insurgents. But when the people became Sahwa, their poverty was not alleviated," the insurgent source says. "They realized that their poverty was due to the Americans and the government. That's what's happening in western Baghdad...

Author: /time Magazine | Title: Al-Qaeda Infiltrating Pro-U.S. Militias in Iraq, Sources Say | 3/31/2009 | See Source »

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