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...Another trend: a creeping problem in the Midwest. It's true that property markets never went wild in Des Moines, Iowa, or Omaha, Neb., the way they did in Merced, Calif., and Fort Myers, Fla., but this means even modest declines in home values can erase equity, especially for recent buyers who have less of a cushion against falling prices. In Iowa, 18.6% of homeowners have negative equity; in Nebraska the figure is 16.6% (both jumped more than three percentage points from September). (See pictures of struggling Cleveland...

Author: /time Magazine | Title: Nearly 1 in 5 Owe More Than Homes Are Worth | 3/4/2009 | See Source »

...During the 1980-82 recession, unemployment went from 7.9% in October 1981 to 10.1% the following September. Two months later, it hit 10.8%. The notion that 10% unemployment will not arrive until next year, if it comes at all, is bogus...

Author: /time Magazine | Title: February Job Losses: Have We Reached Bottom Yet? | 3/4/2009 | See Source »

...into radio at age 16, when his father lent him money for a summer course in radio engineering. Then he got a broadcaster's license, a job at a local radio station, and his own radio show. Limbaugh went to Southern Missouri State for a year before dropping out to pursue his career...

Author: /time Magazine | Title: Conservative Radio Host Rush Limbaugh | 3/4/2009 | See Source »

...Started out in Pittsburgh, where he became a Top 40 music DJ and went by the name Jeff Christie. He turned political in Sacramento, Calif. by creating a politically incorrect persona called El Rushbo, then moved to New York and went national on WABC...

Author: /time Magazine | Title: Conservative Radio Host Rush Limbaugh | 3/4/2009 | See Source »

...ugly, but it's true: when a Washington power player looks set to fall, the capital drools. So Treasury Secretary Timothy Geithner found himself the object of intense interest when he went before the House Ways and Means Committee to testify on Tuesday. It was his first major public appearance since his less than inspiring rollout on Feb. 10 of a half-baked plan to save banks that left Washington and Wall Street whispering that Geithner, 47, wasn't ready for prime time...

Author: /time Magazine | Title: Geithner Tries to Resell the Bank Plan — and Himself | 3/4/2009 | See Source »

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