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...Implementation is the most difficult part of this proposal. While many financial institutions would immediately discount the plan, ultimately persuading them to accept it is not unreasonable. It is true that for those institutions that hold physical mortgages, their maximum potential profit will go down. For a 30% decrease in principal, the math works out to some $3 trillion potentially lost on residential mortgages as of mid-2008, according to the Federal Reserve. But if Americans keep defaulting on these mortgages and asset values continue to crash, the total loss to the financial world will be far greater than...

Author: /time Magazine | Title: A Better Bank Fix: Cut Every Mortgage's Principal | 2/13/2009 | See Source »

...policy is to sow the seeds for future peace talks and eventually to help the FARC regain the status of legitimate war combatants, which the international community still refuses to confer on it. The strategy is partly the doing of Alfonso Cano, who was named the FARC's maximum leader last March following the death, at the age of 78, of Manuel "Sureshot" Marulanda, the guerrillas' cunning but stubborn founding father. Though a hard-line Marxist, Cano, 60, who grew up in Bogota and attended a university there, "sees the world differently than Marulanda," says Carlos Jaramillo, a former government...

Author: /time Magazine | Title: Colombia: A Make-Over for Stumbling Rebels | 2/8/2009 | See Source »

...Reproductive Medicine (ASRM) issued updated guidelines on the number of embryos that should be transferred to a woman's body in the hope they'll implant in the uterus and lead to a live birth. Women under 35 should transfer no more than two embryos, down from the maximum of three recommended in 1998, and women over 40 should attempt no more than five. (See the top 10 medical breakthroughs...

Author: /time Magazine | Title: The Ethics of Octuplets | 2/5/2009 | See Source »

...maximum-wage plan is not retroactive, applying only to companies that tap TARP in the future. The restrictions will apply until a bank pays off its TARP tab and starts behaving. According to an Administration source, "If a bank has restored viability, has paid back the United States government with interest, and is now a completely private-sector bank ... then we can return to a time when this is between them and their shareholders...

Author: /time Magazine | Title: Can Obama's Executive-Pay Limits Tame Wall Street? | 2/4/2009 | See Source »

...President Obama recognized the real risk here: some very good bankers might not want to work for maximum-wage pay and could bolt their TARP-constrained companies. Why, for instance, would JPMorgan Chase CEO Jamie Dimon, perhaps the most astute operator in banking, want to labor for a measly 500 large to run a company with $2.2 trillion in assets...

Author: /time Magazine | Title: Can Obama's Executive-Pay Limits Tame Wall Street? | 2/4/2009 | See Source »

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