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...possibility that some families might have kept quiet about their relatives' conditions struck a nerve with Maisel. He recently learned that his grandfather had been treated for severe depression with 12 rounds of electro-shock therapy before Maisel was born. "Here was this very important piece of my family history and it was almost forgotten within a generation or two," he says. To their credit, officials at the Oregon State Hospital had neatly numbered and catalogued each cremated patient. But for decades they kept the storeroom of canisters a secret from the outside world. Even when Milos Forman shot...

Author: /time Magazine | Title: Ashes to Art in Library of Dust | 1/8/2009 | See Source »

...grappling with tumbling revenues. The reality of lower oil prices for countries such as Iran, Nigeria, Russia and Venezuela in 2009 is likely to include political unrest, massive cuts in public spending, and rocketing inflation and unemployment. "The brutality and speed of the price decline is a huge shock economically and politically for some of these countries," says Didier Houssin, director of energy markets and security for the International Energy Agency in Paris...

Author: /time Magazine | Title: Oil's Sinking Fortunes | 1/8/2009 | See Source »

...That shock is just starting to hit the world's fourth-biggest oil producer, Iran. The price crash has pummeled Iran's foreign earnings, 85% of which come from its shipments of 3.8 million barrels of oil a day. Last summer the country was garnering about $300 million a month from oil and natural gas. This month it's likely to make just $100 million, according to Saeed Leylaz, an economist in Tehran who edits the business newspaper Sarmayeh...

Author: /time Magazine | Title: Oil's Sinking Fortunes | 1/8/2009 | See Source »

...taken, I get calls daily from those who have lost their financial lifeline due to this mess. This wasn't a slow-fade-to-ruin crime, but a flip-the-switch-to-poverty crime, and many are now in an adrenal-driven shock stage of having no money - at all - in the bank. The ruin is especially tragic among retirees hit by this pre-holiday bomb...

Author: /time Magazine | Title: Madoff's Victims: Finding Meaning in the Devastation | 12/30/2008 | See Source »

...many Americans may suffer a moment of sticker shock from the conclusions of the CSBA report and similar assessments from the Government Accounting Office (GAO) and Congressional Research Service (CRS), which make clear that the nearly $1 trillion already spent is only a down payment on the war's long-term costs. The trillion-dollare figure does not, for example, include long-term health care for veterans, thousands of whom have suffered crippling wounds, or the interest payments on the money borrowed by the Federal Government to fund the war. The bottom lines of the three assessments vary: the CSBA...

Author: /time Magazine | Title: The $1 Trillion Bill for Bush's War on Terror | 12/26/2008 | See Source »

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