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...stuck with a $291 billion rescue bill for Fannie and Freddie in the fiscal year that ended in September. Meanwhile, the Federal Reserve is doing its part to artificially lower interest rates by buying $1.25 trillion of Fannie, Freddie and Ginnie mortgage securities this year and next. (See 25 people to blame for the financial crisis...

Author: /time Magazine | Title: Get Homeowners Off Welfare | 10/12/2009 | See Source »

...leadership: You may fail, but your legacy is to prepare your followers to succeed without you. So plunge into the waters, persevere through the dryness, and don't be surprised if you don't reach your goal. For the true destination is not this year at all, but next...

Author: /time Magazine | Title: How Moses Shaped America | 10/12/2009 | See Source »

Maybe it's no beer-drenched bacchanalia, but that means there won't be any Bierleichen (beer corpses) to drag off the streets the next day. Barring a free ticket to Germany (which we'll take any day), Flyby hopes to see you here next year...

Author: By Athena Y. Jiang | Title: Oktoberfest Lite | 10/12/2009 | See Source »

...school superintendents, offers a ruthless assessment of parochial education. "The biggest threat that urban Catholic schools face is nostalgia," he says both of districts nationwide and of his own diocese of Paterson, N.J. A Notre Dame and Harvard graduate fluent in Spanish and Arabic, Eriksen is part of the next generation of Catholic leaders in search of new ways to halt decades of student attrition. "We've been running these schools in a way that might have worked 30 or 40 years ago but doesn't work now," he says...

Author: /time Magazine | Title: Looking for Solutions to the Catholic-School Crisis | 10/12/2009 | See Source »

Cristo Rey is an island of success in the Catholic ocean. But as in the charter-school community, there is an awareness that there needs to be a system-wide overhaul, lest another thousand-plus schools close over the next decade. "Just because you're devoted to serving others isn't a reason why you can't be operationally excellent," says Eriksen. "That's not really a culture that has permeated the Catholic Church for the last few decades...

Author: /time Magazine | Title: Looking for Solutions to the Catholic-School Crisis | 10/12/2009 | See Source »

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