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...generally it is owned outright by the driver. Car owners are waiting much longer before trading their old autos in for new ones. A generation ago, it was not unusual for middle class Americans to buy a new model every two or three years. That is no longer an option even with car prices and incentives as attractive as they have ever been. The American consumer is frankly too terrified to take on a monthly payment that could be in the hundreds of dollars to buy or lease a new car. (See pictures of workers...

Author: /time Magazine | Title: Why Buy a New Car When You Can Build One? | 3/12/2009 | See Source »

...during these periods in United States Government-issued securities such as United States Treasury bills. In addition, I promised that as part of the split strike conversion strategy, I would hedge the investments I made in the basket of common stocks by using client funds to buy and sell option contracts related to those stocks, thereby limiting potential client losses caused by unpredictable changes in stock prices. In fact, I never made the investments I promised clients, who believed they were invested with me in the split strike conversion strategy...

Author: /time Magazine | Title: Bernard Madoff's Full Statement to U.S. District Court | 3/12/2009 | See Source »

...guaranteeing the banks' debts," said John Hempton, a money manager and former Australian treasury official whose Bronte Capital blog has become another crisis must-read. That is, an orderly reorganization of the financial system in which creditors make sacrifices would be great. But it's not really an option. So we keep bailing them...

Author: /time Magazine | Title: The Great Bond Bailout | 3/12/2009 | See Source »

That means that other medications, like zanamivir, a.k.a. Relenza, or prescribing oseltamivir in combination with other drugs is still an option. But the spread of a resistant strain raises the specter of a pandemic--brought on by a flu virus that is highly contagious and invulnerable to nearly all our medical efforts...

Author: /time Magazine | Title: A Flu Strain Goes Kerflooey | 3/12/2009 | See Source »

...laying off up to 300 staffers; now, they are admitting more...the additional cuts coming at their School of Management.  At Harvard, on the other hand, staffers are faced with the specter of lay-offs--but administrators have coyly maintained that lay-offs are just one option on the table. Okay administration, thanks for the assurance.  With Harvard's endowment in worse shape than Yale's, we're not so sure...

Author: By Bonnie J. Kavoussi | Title: Around the Ivies | 3/12/2009 | See Source »

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