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...Their goal is to help homeowners like Ruby Milligan, a single, 61-year-old retired middle school teacher who suffered a mild stroke a few years ago. During the housing boom, when her three-bedroom Miami Gardens house was appraised at what she now acknowledges was an unrealistic $294,000, Milligan says she took out adjustable-rate home-equity loans to help with medical bills. They raised her mortgage principal to far more than the house is now worth in the housing bust. Her mortgage interest has since adjusted up sharply, and she's saddled with monthly payments that...

Author: /time Magazine | Title: How One City May Punish Banks for Foreclosures | 8/25/2009 | See Source »

...when the financial markets melted down in 2008, the mild-mannered, consensus-minded, professorial ex-professor vowed to avoid the errors of omission the sluggish Fed had made in the 1930s and do everything possible to prevent the crisis from becoming a calamity. He blasted a fire hose full of dollars at the U.S. economy, exercising unprecedented powers and sidestepping the democratic process, figuring that desperate times called for desperate measures. And while the blaze hasn't been extinguished, it's starting to look like it's under control, which is why President Barack Obama reappointed Fireman...

Author: /time Magazine | Title: Why Obama Reappointed Bernanke to the Fed | 8/25/2009 | See Source »

...more frequent and more deadly, but governments won't be able to tackle them effectively if they keep pouring money into firefighting rather than tackling the root causes. "Every year it's the same problem," he says. "We're just crossing our fingers and hoping the weather will be mild, rather than actually planning [ahead]. We have been implementing a fire-extinction strategy. We should be implementing a fire-prevention strategy...

Author: /time Magazine | Title: As the Greek Fires Subside, Outrage Grows | 8/24/2009 | See Source »

...clever about managing the doses they receive, for instance by immunizing front-line health workers, says Richard Coker of the Communicable Diseases Policy Research Group at the London School of Hygiene and Tropical Medicine. Even so, he says, most developing countries will struggle to cope with even a mild pandemic. Indian doctors in Pune were overwhelmed earlier this month when, days after India reported its first fatality in the pandemic, thousands of people mobbed public hospitals in the hope of being tested. "We've looked at the pandemic preparedness plans in developing countries and we've found that almost across...

Author: /time Magazine | Title: Inside the Fight Against a Flu Pandemic | 8/12/2009 | See Source »

According to WHO figures, the H1N1 virus has so far proved to be mild, causing only 1,200 deaths among 160,000 confirmed cases. Hay says his team is watching for several changes in the virus' genome that could make the pandemic more severe. The first involves the H1N1 vaccine that is currently in production. The batch is based on a recipe that Hay's team helped put together in April. As it takes six months to produce a vaccine, virologists must be on the lookout for "antigenic drift" - changes in the virus that would let it escape the immune...

Author: /time Magazine | Title: The Flu Hunters: Racing to Outsmart a Pandemic | 8/11/2009 | See Source »

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