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...mid-summer, the Administration's plan to help worthy mortgage holders reduce their monthly payments should show early signs of slowing the year-long acceleration of foreclosure rates. If unemployment and desperation among people with homes worth less than their mortgages leads a greater and greater number of mortgage holders to send their keys back to their lenders, the first, and most important step the government has taken to reverse the collapse of housing will become a disheartening symbol that the Administration and Congress have not solved a big part of the cause of the recession...

Author: /time Magazine | Title: The Economy Moves to the Waiting Room | 5/11/2009 | See Source »

...mid-April, the First Circuit Appeal is over—a loss for the Tenenbaum team—and there’s an even greater sense of urgency in the air. The case would have to proceed, it appeared, without the “village” full of Web viewers. Nesson, who had made what one judge called a “powerful, eloquent” argument in support of the Web cast just a few weeks earlier, had predicted the opposite outcome, making the result all the more jarring. “The troops are disheartened...

Author: By Christian B. Flow, CRIMSON STAFF WRITER | Title: Building the Public Domain, Part II | 5/9/2009 | See Source »

Encouraged by Jonathan Hawley ’10—who competed in last year’s college tournament—Dedousis took the online exam last October and was then called for a second round of rigorous group interviews in mid-November...

Author: By Helen X. Yang, CRIMSON STAFF WRITER | Title: Leverett Sophomore Competes on Jeopardy! | 5/8/2009 | See Source »

...produced some grim news. If the economy dropped to Depression-era levels of unemployment and credit shrinkage, according to the Treasury and the Federal Reserve, those firms could lose nearly $600 billion by the end of 2010, on top of the $350 billion they've already lost since mid-2007. Bank of America needs nearly $33.9 billion in new capital, Wells Fargo needs $13.7 billion and Citigroup needs $5.5 billion. Altogether, 10 of the top 19 need $74.6 billion in additional capital. (See who's who in Obama's office...

Author: /time Magazine | Title: Stress Tested: Has Geithner's Bank Confidence Game Worked? | 5/8/2009 | See Source »

...Kemp began a career in politics, describing himself as a "bleeding-heart conservative." As a GOP congressman from Buffalo, the blue-collar city whose AFL team he had led to two championships in the mid '60s, he worked with black colleagues on issues opposed by both many conservatives and Republicans, including sanctions on South Africa and a national holiday to commemorate the birthday of the Rev. Martin Luther King...

Author: /time Magazine | Title: Jack Kemp: Running a Very Different Republican Race | 5/8/2009 | See Source »

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