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...working in the hazardous-materials unit, and a call came in from a local hospital: chemical spill. Normally, Zachery would have been behind the wheel of the truck, but on that day, he was acting captain, so he rode in the passenger seat. Siren blaring, lights flashing, horn honking - none of it registered with the driver of a city trash truck, who turned into the path of the speeding haz-mat unit. The crash folded the front of Zachery's vehicle, and his head spiderwebbed the windshield...

Author: /time Magazine | Title: House of Cards: The Faces Behind Foreclosures | 2/27/2009 | See Source »

...reason that releasing the figure is without purpose is that none of the banks are mentioned by name. The FDIC's argument is that if the public knew which institutions were in trouble, customers would withdraw money so quickly that the firms would be out of business in a day. That would put a large burden on the FDIC because it insures the deposits at each of those banks, which have combined assets of $159 billion. (See pictures of the Top 10 scared traders...

Author: /time Magazine | Title: The FDIC's Bank Leper List | 2/27/2009 | See Source »

...government is in the process of "stress testing" banks by making assumptions that the American economy could collapse and that unemployment could move to 10% with housing prices could fall another 20%. None of that "testing" take into account what happens if the financial status of Eastern Europe worsens. Maybe that should go on the check list to determine which banks are healthy. The answer would probably be "none." The financial world is too small for defaults on national debt not to have a tremendous ripple effect...

Author: /time Magazine | Title: Sending the Financial World to Save Eastern Europe | 2/27/2009 | See Source »

Still, very few people with a peanut allergy die from it. In fact, a 2003 study led by Dr. Scott Sicherer, a Mount Sinai pediatrician, showed that 90% of peanut-allergic children who got peanut butter on their skin developed nothing more than a red rash; none developed a systemic reaction in which their airways swelled up. The same went for smelling peanuts. Thirty peanut-allergic children were asked to sniff peanut butter and a placebo paste for 10 minutes each, and none developed a reaction to the peanut butter. Only one child had difficulty breathing - and that was after...

Author: /time Magazine | Title: Why We're Going Nuts Over Nut Allergies | 2/26/2009 | See Source »

...return seven years later to find that everything and everyone, including him, has changed. To make matters worse, someone else in his village has undertaken the same voyage before him--with tragic consequences. Salih's other novels include The Wedding of Zein and the Bandarshah stories, although none of them inspired the kind of devotion that Season evokes in its readers. Like my college friend, I have over the years recommended the novel to dozens of people, who in turn have done the same...

Author: /time Magazine | Title: Tayeb Salih | 2/26/2009 | See Source »

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