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Once O'Neill saw South America's financial chaos up close during that quick tour of battered Brazil, Uruguay and Argentina, he wasn't so flip. Before he reached home, the Bush Administration surprised everyone by signing off on a $30 billion International Monetary Fund (IMF) rescue loan for Brazil, which began to restore stability. O'Neill gave tiny Uruguay $1.5 billion from the U.S. Treasury to stop a run on that country's banks. Now even profligate, bankrupt Argentina, which has sunk into bottomless recession through corruption and misguided policies, hopes to get in on the aid, though...

Author: /time Magazine | Title: Bush's Lost Continent | 8/19/2002 | See Source »

...year fixed-rate mortgage fell to 6.38% last week, reports mortgage tracker HSH Associates. That's down from 6.59% at the lowest point last fall - a level gone in a blink. This time rates look as if they will stay put for a few months. Consider a home-equity loan to pay off the mortgage; it amounts to a refi with fewer fees. Best bet: a 15-year fixed-rate. If you have a $150,000 balance at 7.5% on a 30-year mortgage, you could switch to a 15-year at 5.5% for an extra $175 a month, saving...

Author: /time Magazine | Title: Is it Time to Refinance Again? | 8/12/2002 | See Source »

...left worldwide 22 hours of continuous surgery?by a team of more than 50 specialists in Los Angeles?were required to separate two one-year-old Siamese twins conjoined at the head $30 billion was granted to Brazil by the International Monetary Fund, the agency's largest single loan ever $3.3 billion in additional bogus accounting was uncovered by WorldCom's internal auditors last week, bringing the total to $7.1 billion 44% is how much undergoing regular mammograms can reduce breast cancer deaths, according to a new study 7 is the number of studies reviewed by Danish analysts who claim...

Author: /time Magazine | Title: Person of the Week | 8/11/2002 | See Source »

Katagiri is a 40-year-old loan collector who gets no respect. Until a human-size frog, over green tea in Katagiri's Tokyo apartment, exhorts him to engage in mortal combat with a gigantic, destructive worm kilometers beneath the city center. Katagiri doesn't think he has it in him. The frog persuades him otherwise...

Author: /time Magazine | Title: All Shook-Up | 8/11/2002 | See Source »

While staying in Cambridge last summer, my roommate and I had the pleasure of having our deposit turned into an interest-free loan to the person from whom we were subletting, who after ignoring us or claiming the check was “in the mail,” repaid our $400 only six months after we had vacated the apartment...

Author: By Daniel P. Mosteller, | Title: Tales From the Sublet Jungle | 8/9/2002 | See Source »

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