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...months in, and already $16 billion in the hole. That's how much the Treasury's Troubled Asset Relief Program (TARP), which was approved by Congress in early October, has already lost on its investments, according to a TIME analysis. (Read the top 10 financial collapses...

Author: /time Magazine | Title: Treasury Investments Already $16 Billion in the Red | 12/11/2008 | See Source »

Russia needs foreign companies to plug a huge hole in Putin's economic policies. In his first term as President, Putin introduced modern tax and corporation laws. But he failed to spur the development of a business infrastructure that would enable Russia to diversify away from its over-reliance on energy and metals. Now, as the crisis starts to bite, the Kremlin is reacting by increasing its control over broad swathes of the economy. Through the state-controlled banks, it is bailing out selected business executives who are having trouble paying their debts - including Oleg Deripaska, a metals tycoon...

Author: /time Magazine | Title: Russia's Big Chill | 12/11/2008 | See Source »

...Germany Light Shed on Black Hole After 16 years of observation, a team of German astronomers has confirmed the existence of a giant black hole at the center of the Milky Way. The black hole, known as Sagittarius A*, was detected by monitoring the motion of the stars surrounding it. Through this discovery, the astronomers were also able to more precisely measure Earth's distance from the center of the galaxy--27,000 light-years...

Author: /time Magazine | Title: The World | 12/11/2008 | See Source »

...really disappointing, and we’re all a little embarrassed.” Harvard came within as few as seven points during the second half and played that period to a 36-36 tie, but it needed far more to climb out of its deep first-half hole. Nine of those first 15 Terrier points came from star forward Jesyka Burks-Wiley, who ended the night with 21 points on 7-of-13 shooting from the floor and added five rebounds. She got plenty of help: each of the other four BU starters scored in double figures, with...

Author: By Emily W. Cunningham, CRIMSON STAFF WRITER | Title: Crimson Sunk Across City | 12/9/2008 | See Source »

...offer employee retirement plans to enroll workers in a direct-deposit IRA account, which may help many low- and middle-income people participate in retirement programs for the first time. "You can't have companies going from a position of broad stability 12 months ago to having a hole of $280 billion in their pension plans," says Adrian Hartshorn, a lead analyst on the Mercer report. He added: "People are hurting because of the stock market, and there needs to be a national debate around how people save, in the long-term, for retirement...

Author: /time Magazine | Title: Pension Funds Take Another Pounding | 12/5/2008 | See Source »

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