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...there's more to the holdup than a bunch of big companies dragging their feet. As the GAO report points out, Treasury itself has taken its time - perhaps legitimately - in rolling out details of the program. Only in late April did servicers get guidance on how to handle second liens. In May came information about dealing with geographic areas where home prices continue to decline quickly. Other details, like the process for modifying loans insured by the Federal Housing Administration, continue to emerge. It seems that writing the fine print for a program meant to spend up to $50 billion...

Author: /time Magazine | Title: Why the Banks Aren't Modifying Home Loans | 7/30/2009 | See Source »

...where I am interning and living in a home-stay, trash is sorted into 18 categories, which range from burnable waste, to metallic trash, to used tempura oil. City residents divide up their own waste and deliver it to nearby collection stations on designated days. This means that every second Thursday of the month, my host parents transport their plastic waste to the collection site near city hall – except, of course, on the second Thursday of an even-numbered month, during which plastic bottles, and not common plastics, are collected. Before they do this, however, they must...

Author: By Kevin Martinez | Title: Sorting Out My Trash | 7/29/2009 | See Source »

...McConnell's strategy ultimately worked. Bunning raised just over $300,000 in the second quarter of this year, less than McConnell himself, who won't see re-election for five years, and less than Trey Grayson, a Harvard lawyer turned secretary of state who had not yet even officially announced his candidacy. Before the ink was dry on Bunning's statement on Monday, Grayson fixed that technicality, announcing he was in the race, and for keeps...

Author: /time Magazine | Title: How Mitch McConnell Ended Jim Bunning's Career | 7/29/2009 | See Source »

...second area where we still haven't arrived at agreement had to do with the public option, and we've already started to discuss that. There is just a - not only an ideological suspicion of the public option on the part of many Republicans, but many of them also saw it as an opportunity to try to resurrect the old scare tactic of government-run health care, socialized medicine, eliminating your ability to choose your own doctor. That was going to exist regardless of whatever tactics we employed...

Author: /time Magazine | Title: TIME's Exclusive Interview with President Obama | 7/29/2009 | See Source »

...city's most powerful native son, Prime Minister Silvio Berlusconi, who has had his fair share of festas but is not known as a heavy drinker. The 72-year-old billionaire Prime Minister encouraged other municipalities to follow Milan's lead, and by last week, there was a second city making a change to tackle underage drinking. The western Sicilian city of Caltagirone, famous as the birthplace of Don Luigi Sturzo, a Catholic priest and the father of Italy's modern Christian Democratic Party, will not punish underage consumers - or their parents - but it will impose fines...

Author: /time Magazine | Title: Italy Starts Cracking Down on Underage Drinking | 7/29/2009 | See Source »

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