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...phone call to Frey last year, she told him that she'd been meditating and suddenly realized that part of her reaction to his mendacity stemmed from her personally feeling duped and betrayed. She said, in what might be a first for any entertainment mogul, "I feel I owe you an apology...

Author: /time Magazine | Title: World's Most Shocking Apology: Oprah to James Frey | 5/13/2009 | See Source »

...mortgage rates near all-time lows, interest in this program is running extremely high. In the first few weeks of April, Fannie Mae had 1.2 million homeowners check its website to see if their mortgages qualified. During that time, Fannie received some 22,000 refinance applications from people who owe between 80% and 105% of the value of their home - the group the plan targets. A Fannie spokeswoman couldn't comment on how many of those had closed...

Author: /time Magazine | Title: Feds Offer More Help for Troubled Homeowners | 4/28/2009 | See Source »

...After Akhmad was killed by a bomb in 2004, Putin installed Ramzan as prime minister, and later president; the two continue to enjoy a close relationship. "If it were not for Putin, Chechnya would not exist. I owe my life to Putin," Kadyrov said of his political patron in a recent interview with Rossiiskaya Gazeta...

Author: /time Magazine | Title: Russia's Chechnya Pullout: Compromise Over Victory | 4/20/2009 | See Source »

...While the revenue of state and local governments are falling, their obligations are not. On average, states have funded only 83% of what they owe or will owe to their retired workers. Many states have done a much worse: West Virginia, Road Island, Connecticut and Oklahoma all have less than 60% of their retiree benefits paid for. "The number of state funding ratios at the low end is startling," says Peter Hayes, who heads BlackRock's municipal bond management committee. "The prospect for even greater liabilities is a reasonable scenario if the country becomes trapped in a prolonged recession...

Author: /time Magazine | Title: Rising Risks in Muni Bonds Worry Investors | 4/13/2009 | See Source »

...Barcelona, Montserrat Vila is similarly unafraid to meet her costumed fate. The threatened toreros didn't appear that afternoon, but she is ready for them whenever they do - with a garden hose set to spray from her apartment balcony. "I owe money, that's all. I'm not ashamed of that," she says. "They're the ones who should be ashamed...

Author: /time Magazine | Title: Spain's Costumed Debt Collectors: Final Notice? | 4/9/2009 | See Source »

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