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...Brown and Darling gathered on Monday to unleash a slew of new schemes, the stakes for the Prime Minister - and the British economy as a whole - could scarcely have been higher. Central to those plans is the creation of a bumper insurance scheme that will permit banks to buy cover against losses on bad loans in the hopes that this will encourage banks to start lending to Britain's cash-strapped companies and consumers. Also announced: a $74 billion scheme allowing the Bank of England - Britain's lender of last resort - to buy high-quality assets directly from financial institutions...

Author: /time Magazine | Title: Gordon Brown Rescues British Banks — Again | 1/19/2009 | See Source »

...impact players involved in violent gang activity. This is important because of the potential for the work of the council to violate the civil rights of young people the overwhelming majority of whom will Black and poor. It is crucial that Harvard’s Black intelligentsia no longer permit the usual suspects of the criminal justice industry to control the policy discourse on questions of public safety that so disproportionately affect poor Black people. The Boston Foundation’s current twenty-six million dollar Street Safe initiative, led by Robert Lewis Jr., presents an excellent opportunity for Harvard...

Author: By Eugene F. Rivers iii | Title: Harvard and the Boston Miracle | 1/16/2009 | See Source »

...incentives and extensions of credits already in the tax code. The National Automobile Dealers Association has made the incentives a top lobbying priority; new legislation has already been introduced in Congress. One proposal supported by Democratic Sen. Barbara Mikulski of Maryland and Republican Sen. Kit Bond of Missouri would permit new car buyers to deduct auto loan interest and sales tax on their personal income taxes. "We think temporarily making interest deductible on car loans would spur sales," says NADA economist Paul Taylor. The NADA is also supporting "cash for clunkers" initiatives, which encourage consumers to upgrade their older cars...

Author: /time Magazine | Title: The Auto Bailout Keeps Growing, and Growing | 1/14/2009 | See Source »

...than in Washington, DC. Over the decades Cubans acquired better access to nutrition, curative and preventive health care free of charge, schooling to obtain the information needed to lead healthier lives, options for physical exercise in state-supported athletics and sports, and all under conditions of sufficient equality to permit a broad universal advance. It was the best of times in many ways...

Author: By Jorge I. Domínguez | Title: The Castro Regime at Age 50 | 1/8/2009 | See Source »

...intruded. Jimmy Carter failed to close the deficit through higher taxes in the late 1970s. And Ronald Reagan made tax cuts the down payment on every election since. George W. Bush, of course, imitated Reagan in cutting taxes, thereby creating huge new budget deficits. Voters are still willing to permit the government to expand its share of GDP, particularly in the face of national crises - and we are certainly in the middle of one. Tax revenues jumped from just 5% of GDP in 1936 to 15% to 20% during and after World War II, creating our modern tax system...

Author: /time Magazine | Title: The Case for Bigger Government | 1/8/2009 | See Source »

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