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According to MarketWatch, the data show that "loans modified in the first three months of 2008 showed that 37% of borrowers were more than 30 days behind on their payment within three months, and 55% had re-defaulted within six months." This information opens a Pandora's Box of whether the Administration's plan to help homeowners bring down their monthly payments will make any difference to the real estate market. (Read "How to Fix the Housing Market...

Author: /time Magazine | Title: When Mortgage Assistance Does Not Work | 2/25/2009 | See Source »

...need for urgent action during the financial crisis has caused some schizophrenic behavior. Last fall, the commission encouraged E.U. member states to agree to stimulus programs worth around $250 billion, arguing that the crisis demanded radical action. But last week, the very same body said six E.U. countries - France, Greece, Spain, Ireland, Latvia and Malta - had breached the 3% limit and might now be punished...

Author: /time Magazine | Title: Europe's Twin Messages: Spend! Stop Spending! | 2/24/2009 | See Source »

...were standing in six to eight inches of water and it was freezing. There were two women on the wing, one of whom slipped off into the water. Another passenger and I pulled her back on and had her kneel down to keep from falling off again. By that point we were totally soaked and absolutely frozen from the icy wind...

Author: /time Magazine | Title: From Park Avenue to the Hudson: A Flight 1549 Diary | 2/24/2009 | See Source »

...Check Here," students swarmed the streets outside the school, approaching drivers at every light. Some even boarded city buses, collecting donations in increments as small as 20 cents. Between the students' efforts and a few large donations from faculty and alumni, the school raised nearly $90,000 in just six hours. (See TIME's special report on paying for college...

Author: /time Magazine | Title: Sparing a Dime to Save a College | 2/24/2009 | See Source »

...Shari'a system agreed upon with Mohammed, says Shoukat Ali Yousafzai, will resolve criminal cases within four months and settle civil matters within six months. Judges will be advised by religious scholars, he says, "but there will be no beheadings, hand choppings or ban on women working or studying...

Author: /time Magazine | Title: Can Pakistan Regain Control of Swat from the Taliban? | 2/24/2009 | See Source »

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