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...based on their experience, Japanese analysts believe that actions to date have been insufficient. They say that in addition to the U.S. Treasury Department's plan to spend $700 billion buying bad assets from banks, the government also needs to recapitalize banks using taxpayer money. Only then will confidence in the financial system return, ending the current paralysis in lending that threatens the entire economy. "Taking nonperforming loans out of the balance sheets is not enough," says Jun Saito, director general of the economic-research bureau for Japan's cabinet. "What we've learned [in Japan] from the 1990s...

Author: /time Magazine | Title: Lessons From Asia's Last Meltdown: Act Fast | 10/10/2008 | See Source »

...when I first started finding out about the issue, how parents were losing control of their children physically, and they were in jails because there wasn't any place to put them ultimately. If it's some average worker trying to find a place for their kid to spend a week or something for treatment and medicine, it's pretty damn expensive. How does this bill address those problems? This bill targets insurance plans that cover more than 50 employees. About 113 million people, we figure, are in group insurance plans that have, as part of their health care, mental...

Author: /time Magazine | Title: Senator Pete Domenici on Mental Health | 10/10/2008 | See Source »

...more and more for humankind all the time. I went to a clinic that handles little tiny babies that are born premature and they showed us what new equipment they have and how the baby can be saved and nourished at even a pound and a half. We spend hundreds and hundreds of thousands of dollars to save little premature babies and that shows a real commitment on our part. And then we turn right around and, for the mentally ill, we have made it so difficult for so long to even say it's an illness that you just...

Author: /time Magazine | Title: Senator Pete Domenici on Mental Health | 10/10/2008 | See Source »

...American racism. Old-fashioned antiblack bigotry still exists, but today, far more than 20 years ago, white Americans are likely to associate dark skin with foreignness. When Americans complain about school integration now, they're often referring to the children of immigrants, who are forcing their school boards to spend millions of dollars on English-as-a-second-language programs. Were Helms alive today and updating his notorious "white hands" ad, he might blame not African Americans receiving racial preferences but Salvadorans or Somalis working for minimum or below-minimum wage. Since 9/11, these fears have often fused...

Author: /time Magazine | Title: Is Barack Obama American Enough? | 10/9/2008 | See Source »

...congressman said yesterday that he will introduce legislation this January requiring colleges and universities to spend at least 5 percent of their endowments each year, a move that follows months of heated debate over the prospect of such a mandate...

Author: By Clifford M. Marks and Peter F. Zhu, CRIMSON STAFF WRITERSS | Title: Rep Pushes Payout Bill | 10/9/2008 | See Source »

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