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...foreclosure cases we now see in the office are no longer the people who got connived into taking inappropriate mortgages—mortgages that encouraged the buyer to pay only interest and not build equity in the house, or that would reset in 2 years and double their payments. These days, the typical homeowner facing foreclosure seems more likely to have simply lost a job—in a steel plant or a bank or as an auto-mechanic—and fallen behind on payments...

Author: By Max J Kornblith | Title: Back Home and Down to Earth | 8/4/2009 | See Source »

...changed with the downturn. Lost jobs tends to mean more domestic violence-related divorces and more claims from workers who are wrongfully denied unemployment benefits, as well as a greater need for papers requesting a court modify child support payments that a laid-off worker can no longer afford...

Author: By Max J Kornblith | Title: Back Home and Down to Earth | 8/4/2009 | See Source »

...discount of up to 50% on the price agreed on last year with Rio Tinto. But with the negotiations stretching long past their original June 30 deadline, steadily climbing prices for iron ore have steelmakers sweating. "Clearly the Chinese insistence that the price be cut further no longer can be sustained," says Jim Lennon, a Macquarie Bank analyst, who notes that talks "have gotten increasingly acrimonious...

Author: /time Magazine | Title: Spotlight: The Rio Tinto Scandal | 8/3/2009 | See Source »

...Qaeda is no longer even based in Afghanistan, its leaders now thought to be operating underground in Pakistan's tribal areas. Preventing it from reclaiming an Afghan sanctuary may not require keeping 70,000 or more U.S. troops in the country for years to come - particularly since that deployment in itself is a key driver of the Taliban's insurgency...

Author: /time Magazine | Title: Does the U.S. Have an Exit Strategy in Afghanistan? | 8/3/2009 | See Source »

Hard-line rhetoric heated up soon after the trials began. "Today's confession has opened the way to dealing with the leaders of the unrest," Hamid Resaee, a conservative lawmaker, told the state news agency IRNA. "There is no longer any reason to tolerate or compromise." Hard-line cleric Elias Naderan was even more explicit: "Those within the inner circle who managed the unrest must be put on trial. We shouldn't chase after weak, second-class figures with no influence...

Author: /time Magazine | Title: Iran's Show Trials: The Hard-Liners Build Their Case | 8/3/2009 | See Source »

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