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...there's more to the holdup than a bunch of big companies dragging their feet. As the GAO report points out, Treasury itself has taken its time - perhaps legitimately - in rolling out details of the program. Only in late April did servicers get guidance on how to handle second liens. In May came information about dealing with geographic areas where home prices continue to decline quickly. Other details, like the process for modifying loans insured by the Federal Housing Administration, continue to emerge. It seems that writing the fine print for a program meant to spend up to $50 billion...

Author: /time Magazine | Title: Why the Banks Aren't Modifying Home Loans | 7/30/2009 | See Source »

...less privileged. Still, with pressure increasing on students to find work, the clamor for internships is only growing. To land that first job, career advisers now say, applicants should have two or more internships under their belt. Anyone who takes a summer to simply explore might be too late...

Author: /time Magazine | Title: Interns | 7/30/2009 | See Source »

...little less red in recent years, even as Bunning has remained one of the most conservative Senators. Louisville now has a liberal Democrat in the House, and the Republican governor whom McConnell helped elect in 2003 was roundly defeated four years later. Bunning's conservative credentials - buoyed of late by his opposition to the stimulus package, Supreme Court nominee Sonia Sotomayor and, especially, the Wall Street bailout - would have stood him in good stead in a primary, but observers on all sides of the fence predicted he would have struggled in the general election, which has already drawn two strong...

Author: /time Magazine | Title: How Mitch McConnell Ended Jim Bunning's Career | 7/29/2009 | See Source »

President Barack Obama has announced plans to withdraw American combat forces from Iraq by Aug. 31, 2010. The bulk of the current 138,000 U.S. troops are expected to remain until Iraq's national elections, scheduled for late this year. Maintaining security for the balloting is considered a top priority by Odierno and other high-ranking Pentagon officials...

Author: /time Magazine | Title: Gates: Some Troops May Leave Iraq Early | 7/29/2009 | See Source »

...however, had become an embarrassing inconvenience to Baghdad's increasingly cozy ties to Tehran. Although Iraq has repeatedly said it is in its own national interest to remove the group, Iranian Supreme Leader Ayatullah Ali Khamenei, meeting with Iraqi President Jalal Talabani in late February, left little doubt as to what he expected the Iraqis to do. "We await the implementation of our agreement regarding the expulsion of the hypocrites," he was quoted as saying...

Author: /time Magazine | Title: At Tehran's Bidding? Iraq Cracks Down on a Controversial Camp | 7/29/2009 | See Source »

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