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...news is filled with talk of a global credit crisis. American homeowners are defaulting on their loans and housing-related stocks have crashed. The dollar is doing a disappearing act. Alan Greenspan, after years of artful obfuscation, has suddenly discovered a terrifying gift for clarity, warning that inflation will rise and house prices will tumble. Stock market volatility has surged. And now, feeding fears that the contagion is spreading, the British bank Northern Rock has suffered a near-death experience...

Author: /time Magazine | Title: Reasons to be Cheerful | 9/20/2007 | See Source »

...adjustable-rate mortgages (ARMS). Many borrowers did save money with ARMs, and the idea that a few words from Greenspan at a credit-union meeting persuaded millions of others to take out teaser-rate loans they couldn't afford stretches belief. But with ARM-related defaults on the rise, it doesn't look good...

Author: /time Magazine | Title: It's Not His Economy | 9/20/2007 | See Source »

Flat strips of lush, submerged grass rise in terraces from the courtyard of Sidwell Friends' new middle school in Washington like rice paddies in a mountainous Chinese village. Part of a man-made wetland connected to the school's water system, the plants filter liquid waste, just as real wetlands do with rainwater. It's an engineering marvel, but Sidwell student Patricia Solleveld, 15, doesn't want you to get the wrong idea. "It doesn't smell at all," she says. Not only that, says Alejandro Alderman, 14, but the wastewater filtered through the wetland is clean enough to drink...

Author: /time Magazine | Title: Little Green Schoolhouse | 9/20/2007 | See Source »

...both authors: Dickens may have seen the Thames as "essentially a river of tears and darkness," writes Ackroyd, but "you could aways be sure he knew in which direction the tide was moving." Those tides were vital to London becoming the center of global trade, with the twice-daily rise and fall of the Thames providing an easy passage for trading ships to the heart of the city. By the 16th century an estimated 2,000 vessels and 3,000 watermen were on the river at any one time, and by 1800 it was so choked that ships might wait...

Author: /time Magazine | Title: The Lifeblood of London | 9/19/2007 | See Source »

...cancel a couple of races, to some big puffs,” Brants said. “We were able to handle lots of different conditions.”Through three regattas for the women, the team’s lowest finish is third, which should result in a rise in the polls when the next Sailing World College rankings are released.“Last year we were a young team, both of our skippers were sophomores and I was a sophomore too, so now three out of four of us are juniors,” Brants said...

Author: By Malcom A. Glenn, CRIMSON STAFF WRITER | Title: Crimson Continues Excellent Start to Season | 9/17/2007 | See Source »

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