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...Glass-Steagall Act in 1999 as an unfortunate tipping point of deregulation. Glass-Steagall, passed in 1933, separated investment banking and plain-vanilla banking, which some experts argued made markets safer. (Certain restrictions of Glass-Steagall were repealed to allow the merger of Citicorp and Travelers. Let's just say that didn't end well.) "That was the single moment when the seeds for the bad stuff were planted," says Brands. "There was a belief that technology, the Internet and financial instruments had changed things, and the ones selling this idea and these instruments were making a lot of money...

Author: /time Magazine | Title: The '00s: Goodbye (at Last) to the Decade from Hell | 11/24/2009 | See Source »

...naturally follow that the next decade will be all good and glory? Of course not. And yet there are some hopeful signs. We have seen the destructiveness of deferral and neglect on infrastructure, national and global politics, financial markets and corporate governance, and I think it's safe to say that the awareness of that danger is much higher now. Maybe that's why, for the first time, a national health care bill actually has a chance to become law. (Read "Understanding the Health Care Debate: Your Indispensable Guide...

Author: /time Magazine | Title: The '00s: Goodbye (at Last) to the Decade from Hell | 11/24/2009 | See Source »

...amendment goes too far, beyond the decades-old Hyde Amendment, the federal law that prohibits funding of abortions through Medicaid and other federal health plans except in the case of rape, incest or to save the woman's life. By restricting abortion coverage through the so-called exchange, critics say, the Stupak amendment will end up limiting the availability of abortions, especially for the low-income women who would qualify for federal subsidies to help purchase policies. Stupak charged that the Dems' compromise proposal, which would have segregated public funds from private funds that could be used...

Author: /time Magazine | Title: Can a Pro-Life Dem Bridge the Health-Care Divide? | 11/24/2009 | See Source »

...Catholic Bishops - which has also lobbied heavily on the issue - might hope for. Casey's amendment would boost services to pregnant women to help educate them on their choices. "I think it would help a lot of folks on both sides feel more comfortable about the bill," Casey says. That certainly won't go far enough for pro-life advocates who say the current language in the Reid bill - a version of the separation-of-funds idea - is "an enormous disappointment, creating a new and completely unacceptable federal policy that endangers human life and rights of conscience...

Author: /time Magazine | Title: Can a Pro-Life Dem Bridge the Health-Care Divide? | 11/24/2009 | See Source »

After a few weeks, the airline finally provided its overweight-baggage policy in writing. The explanation was that Wolfe was charged three times the normal fee because his bags were overweight and oversize. The policy, while confusingly written, seems to say that bags over 32 kg with total dimensions of more than 80 in. would get socked with a triple penalty...

Author: /time Magazine | Title: Airline Bag Fees: As High as the Cost of a Seat? | 11/24/2009 | See Source »

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