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...homeowners would be covered in a bailout, another Administration official stressed. The plan is to assist only people with sustainable home loans, not borrowers who made bad decisions and are stuck with mortgages they clearly can't pay off. "We're not doing anything for people who are under water," said the official. The FDIC plan would attempt to filter out "the people we can't help. There are foreclosures that will go forward." The process of sorting good from bad loans would also provide clarity for mortgage markets by helping financial institutions assess where the risks are in their...

Author: /time Magazine | Title: The Next Bailout: Helping Homeowners in Distress | 10/30/2008 | See Source »

...Clark, meanwhile, is struggling to seduce voters with lofty talk on combating climate change. The notion that the planet is on the brink of catastrophe from this amorphous force is a hard sell in New Zealand, where water is abundant and lush pastoral land rolls on forever. Clark wants New Zealand, which produces 0.4% of the world's carbon emissions, to set the pace on emissions cuts, just as it was the first country to grant women the vote (1893) and the first Western-allied nation to legislate itself into nuclear-free status (1987). "New Zealand...

Author: /time Magazine | Title: Taking a Step to the Right? | 10/30/2008 | See Source »

...than-stellar image of its referees very seriously. But when the league announced in July that it was putting a two-star Army general in charge of its officiating, the jokes started flying. Even the refs themselves can't resist corny quips. "You know, instead of getting cups of water over at the [scoring] table, we're going to get a canteen," says 32-year veteran ref Joey Crawford. "If you screw up a play, are you going to go down and do 100 push-ups?" Ronald Johnson, the retired general whom the league hired to revive trust...

Author: /time Magazine | Title: Can an Army General Whip NBA Refs into Shape? | 10/29/2008 | See Source »

...that, we need to reduce global carbon emissions (which hit about 10 billion tons last year) until they are equal to or less than the amount of carbon sequestered by the oceans and plant life (which removed about 4.8 billion tons of carbon last year). It's just like water in a bathtub - unless more water is draining out than flowing in from the tap, eventually the bathtub will overflow...

Author: /time Magazine | Title: What the Public Doesn't Get About Climate Change | 10/28/2008 | See Source »

...Over the course of last year, the University already took drastic steps to regulate students’ daily water usage by installing environmentally-friendly showerheads and toilets in dormitories. A helpful illustration adjacent to the toilet neatly summarizes the features of the new “dual-flush” technology—a more sophisticated, and more hygienic, version of an old scatological rhyme that recommends to “let it mellow...

Author: By Christopher B. Lacaria | Title: It’s Not Easy Being Green | 10/27/2008 | See Source »

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