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...statement, FDIC chairman Sheila Bair, who has seen her own suggestion of the U.S. government directly guaranteeing mortgages sidelined, called the new program "a step in the right direction" but also took it to task for not more directly addressing mortgages held in private securities. As Lockhart pointed out, mortgages owned or guaranteed by Fannie and Freddie represent less than 20% of serious delinquencies. Private label securities - those packages of mortgages that were sliced and sold to investors - represent some 60% of serious delinquencies. Lockhart made an appeal for servicers of such securities to "adopt this program as the industry...

Author: /time Magazine | Title: Fannie and Freddie Offer New Plan to Help Homeowners | 11/12/2008 | See Source »

...certain 
measures like volatility, Merrill thinks it will continue at least into the 
first quarter of 2009 - does that mean you should pick out some 
industry-focused funds, or ETFs, to invest in? Well, maybe not. Keep in mind
 that you still have the daunting task of picking the right industries. What
 might be a sounder strategy, if you aren't satisfied with broad-based mutual
 funds and insist on playing games in the stock market, is finding stocks 
that haven't been tracking their industries quite so closely. There...

Author: /time Magazine | Title: How Stock Picking Has Changed | 11/11/2008 | See Source »

...assume that things are likely to get more challenging this year and next before they get easier,” she said. “There is a high likelihood that the budget in 2010 will not restore the cuts.” The North Cambridge Crime Task Force lost around $12,000 of state money from the Executive Office of Public Safety and Security, which amounts to a 25 percent reduction in salary for its 25-hour-a-week employee. While NCCTF can keep the employee until the end of the fiscal year, the part-time position will...

Author: By Shan Wang, CRIMSON STAFF WRITER | Title: Human Services Face Budget Cuts | 11/11/2008 | See Source »

India and Pakistan have fought over Kashmir twice since 1947. Resolving an issue that has been the failure of many great diplomatic efforts will by no means be an easy task. But Obama, strengthened by his mandate at home and even abroad, and spurred on by his pledge to fix Afghanistan, is the man for the job. The time is right. Despite the economic meltdown, the U.S. has leverage in the form of an agreement to sell India civilian nuclear technology and fuel. Pakistan has a civilian government for the first time in nine years, and a desperate need...

Author: /time Magazine | Title: The Key to Afghanistan: India-Pakistan Peace | 11/11/2008 | See Source »

...them. At one point the group walks through a nest of giant ants that bite people's legs. One girl starts screaming after injuring herself on the trip and has to be supported by friends as she hops along. The group slides down a steep ravine, a particularly hard task in the middle of the night, and many come through with cuts and bruises. But by the time the group arrives at the base camp and sings a lively rendition of the Mexican national anthem, no one complains that it was too hard...

Author: /time Magazine | Title: In Mexico, a Theme Park for Border Crossers | 11/11/2008 | See Source »

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