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...trouble is that since the pump-priming EFF was launched with an initial purchase of C$25 billion in government-backed mortgages in October 2008, there is nothing to suggest it has made any progress toward achieving its stated objectives. To be fair, about C$40 billion has been spent to date, but Canadian banks are just sitting on the new cash like the proverbial goose. "There is no evidence of more credit becoming available," says analyst Michael Goldberg with Toronto-based Desjardins Securities Inc. "In fact loan growth in the economy is slowing...

Author: /time Magazine | Title: What Obama Can Learn From Canada on Bank Bailouts | 2/19/2009 | See Source »

...Their daily schedule includes military drills, therapy sessions, reading and sports. "At first, I felt like I was living in hell," says Yang Xudong, a laconic 22-year-old in his second month of treatment. "But over time, it gets more comfortable and peaceful." Despite the progress he's made, like eating a diet other than the instant noodles he used to live on while playing online games, the Beijing native admits he still gets upset too easily and is "afraid of people"--two signature symptoms of Internet addiction, according to Tao. "I think life in this camp has definitely...

Author: /time Magazine | Title: Postcard from Beijing | 2/19/2009 | See Source »

...says it needs more money from the federal government or it will run out of cash next month. It has made some progress with its creditors and the UAW, but neither of those negotiations is final, so some of what GM can do to cut costs and improve its balance sheet will have to be taken on faith...

Author: /time Magazine | Title: GM Bailout: Billions to Put People Out of Work | 2/18/2009 | See Source »

...farm flocks for personal use, like Jenkins and friends, who look forward to growing their herd with every lambing season. "At $5 to $10 a head, a young guy can make some pretty good money shearing sheep," says Melendrez. Dismissing the class for lunch, he is satisfied with their progress. When asked the hardest thing to teach, he responds, "Patience...

Author: /time Magazine | Title: The Fine Art of Sheep-Shearing — for Fun and Profit | 2/18/2009 | See Source »

...output. But the government's dilapidated oil facilities have essentially maxed out their production capacity; U.S. and Iraqi officials say any significant rise in production would require massive involvement by foreign firms, which continue to haggle with the government of Iraq over business terms, with little sign of progress toward possible deals...

Author: /time Magazine | Title: Iraq a Haven from the Global Financial Crisis — for Now | 2/18/2009 | See Source »

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