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...many ways, the tightened credit make sense. We are living in the aftermath of the greatest credit bubble since the Roaring '20s, after all. Standards were too loose and had to change. At the same time, problems at many banks are contributing to the new, more conservative lending stance. Souring real estate loans are driving dozens of banks out of business. Since the beginning of the year, the Federal Deposit Insurance Corporation has taken over 30 failing institutions...
...work whenever her daughter, Rachel, had an appointment with a psychiatrist. Rachel was a teenager when she started treatment for bipolar disorder roughly six years ago. Back then, she and her mother had never heard of telepsychiatry. But now they're using real-time videoconferencing in Olympia, Wash., to make it easier for Rachel to remain in the care of experts in Seattle. During the videoconferencing sessions, her psychiatrist can monitor how Rachel is doing, and Kanina can sit beside her daughter and take notes on the recommended adjustments to her daughter's medications. "I was a little apprehensive about...
...lovely five-bedroom, riverfront suburban house, owned but never occupied by a coal magnate from Shanxi province. "How much does he want for it?" he asked a local real estate agent in late February. When told the answer was $735,000, Yang didn't blink. "I'd like to make an offer." (Read "Bubble Trouble: Why Real Estate Is China's Biggest Headache...
...Keep Your Fingers Crossed When bubbles finally do burst, recent history has shown, they tend to do so with a bang. Is China, in fact, now at the end of its real estate boom? Many are not convinced. They point to a couple of factors that make China's situation different from that of the U.S. The first is that the real estate sector is nowhere near as reliant on debt financing as it is in the U.S. and much of the rest of the developed world. Consider the complex in which Yang, the cabbie, bought one of his three...
...break that dependency? Many Western and Afghan counternarcotics experts recommend the cold-turkey approach: just destroy the poppy crop and make the farmers plant something else. Gulab Mangal, the governor of Helmand province, which includes Marjah, favors this plan. But according to Afghan officials, McChrystal and his military commanders have warned that destroying the crop would enrage the population. Mohammed Rahim Khan, who fled the invasion and has just returned to his poppy fields, tells TIME, "I spent lots of money on my field, and so did my neighbors. If the government destroys the fields, nearly all the people will...