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Look under the hood of a bond called Jupiter High-Grade CDO V, and you can understand why we're in trouble. Bankers from the 1970s, when mortgage bonds first took off, would hardly recognize Jupiter. Unlike a traditional bond, Jupiter's underwriter does not buy people's mortgages, collect the payments and pass them on to its investors. Instead, Jupiter holds other mortgage bonds--and not just any. Jupiter's investments are made up of the riskiest portions of other bonds, some of which are themselves a collection of other poorly rated mortgage bonds. In a rising real estate...

Author: /time Magazine | Title: One Bad Bond | 2/26/2009 | See Source »

David Von Drehle's piece on a-rod was right on the money [The Moment, Feb. 23]. Baseball culture has deteriorated into nothing more than a strongman competition. The love of the "crowd-pleasing homers" has outshined the love of the game. I can understand why players like Rodriguez feel the need to use steroids to keep up, but we shouldn't forget all the dope-free players in the major leagues who still manage to awe cynical fans like me with their natural athleticism and passion for the sport. I still believe! Mason Wood, RAYMOND, MAINE...

Author: /time Magazine | Title: Inbox | 2/26/2009 | See Source »

Given the uncertainty in the medical world, it's easy to understand the frenzy outside the doctor's office. Too often parents of newly diagnosed children aren't given enough information about when and even how to inject the lifesaving epinephrine. "Our allergist said, 'Here you go. Here's a prescription and see you in a year,' " says Dena Friedel, an Ohio mom whose daughter was diagnosed with a peanut allergy when she was 2. When her daughter had a reaction several months later, Friedel didn't know when to use the syringe and called 911 instead. The EMT told...

Author: /time Magazine | Title: Why We're Going Nuts Over Nut Allergies | 2/26/2009 | See Source »

...reaction, Burks will deem her "peanut tolerant" and allergy-free. If that happens, she will be among the first generation to conquer a food allergy. And perhaps it will be this scientific success that will provide the ultimate antidote to the hype and hyperbole. "We want people to understand what they have to do in case of an allergic reaction, but we don't want them to be so scared that they totally shelter allergic children, because that is not realistic," says Sampson. "It's a hard line to walk...

Author: /time Magazine | Title: Why We're Going Nuts Over Nut Allergies | 2/26/2009 | See Source »

...idea is to figure out how much you usually consume vs. how much you typically burn. An online questionnaire helps you understand what you eat and sets daily goals. (To lose, say, a pound a week, the average human needs to consume 500 fewer calories per day than he burns.) Given my penchant for booze and fatty foods, my daily burn target was 3,150 calories--an output that requires me to take a daily two- to three-mile walk and do an hour on the bike. Or I can just eat less...

Author: /time Magazine | Title: Pocket-Size Personal Trainers | 2/26/2009 | See Source »

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