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As of Thursday evening, however, the Fed and the Treasury proposed a more fundamental solution to the meltdown, and it curiously seems to embrace the idea of eternal return. The bailout package sent to Congress envisages the purchase of toxic mortgage-related assets from banks by a government agency directly...

Author: By Pierpaolo Barbieri | Title: The Bubble Doom | 9/21/2008 | See Source »

Let's also keep in mind that if Reserve Management were a big, multi-faceted money manager instead of a focused, privately held company, there's a good chance it would have averted having to mark down its fund. We can say that because that's what big, multi-faceted...

Author: /time Magazine | Title: Feds Back Money Markets: Is Your Fund Safe? | 9/19/2008 | See Source »

Some owners still believe they can profit by remaining in the subsidized housing game. Mark Carbone is the head of the division of New York-based Related Properties that deals with affordable housing. He says his company is well-financed enough to weather the current housing bust and continue to...

Author: /time Magazine | Title: Low-Income Housing: Another Crisis Looming? | 9/19/2008 | See Source »

Foley, Mark • charges related to lurid IM exchanges with young male pages unlikely to be filed against

Author: /time Magazine | Title: Paul Slansky's Weekly Index of the News | 9/19/2008 | See Source »

This is not the first safety scandal related to Chinese milk. In 2004, at least 13 babies died of malnutrition in Anhui province after unscrupulous producers sold milk with no nutritional value. Melamine, a nitrogen-rich compound used in plastics and fertilizers, has been used to make milk that has...

Author: /time Magazine | Title: China's Rage Over Toxic Baby Milk | 9/19/2008 | See Source »

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