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...roughly 80% of the Austrian GDP. When, on February 17, rating agency Moody's warned that it might downgrade a number of western European banks with exposure to the region, the euro plunged to a three month low of $1.26 against the dollar. "Given the combination of banking and trade links between Eastern and Western Europe that have been built up over the past five to ten years, it's clear that this cannot be seen as a self-contained regional crisis," says Neil Shearing, Eastern Europe economist at Capital Economics in London...

Author: /time Magazine | Title: The Economic Crisis Hits Eastern Europe | 2/25/2009 | See Source »

...monstrosity that the stock market has made it out to be. It may cut its dividend or lose its precious credit rating. Its financial service businesses may post large loses. But, it should not trade like a money center bank that the federal government is about to nationalize...

Author: /time Magazine | Title: In Defense of General Electric | 2/24/2009 | See Source »

...January 12, NPR broadcast an interview given by the neoconservative economist N. Gregory Mankiw, the former chair of President Bush’s Council of Economic Advisors and professor at Harvard University. I agree with Dr. Mankiw’s support for free trade and his expression of disappointment that the Republican-controlled Congress did not reform Fannie Mae and Freddie Mac. However, most of his ideas are precisely what led to our country’s current economic disaster...

Author: By Thomas J. Donahue | Title: More of the Same Neocons | 2/24/2009 | See Source »

...smaller number of these dogs, the alternative to adoption may be a fate worse than death. In 1966, LIFE magazine shocked the nation with an expose entitled “Concentration Camps for Dogs,” detailing the gruesome trade of dog dealers who plied impounded pets to animal testing laboratories. And, though that trade has since been regulated, 70,000 dogs still go unwillingly under the vivisectionist’s scalpel in America every year, some of them former pets...

Author: By Lewis E. Bollard | Title: The Dog Delusion | 2/24/2009 | See Source »

...graces of the U.S. government, which props up the Andean nation with about $600 million in annual aid. It also rids Colombia of the headache of prosecuting and jailing criminal masterminds. The threat of extradition has helped to demobilize 30,000 paramilitary fighters who were financed by the drug trade...

Author: /time Magazine | Title: Colombia's Drug Extraditions: Are They Worth It? | 2/24/2009 | See Source »

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