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...communities, caused the subprime mortgage lending binge that sparked the current troubles. It's certainly conceivable that Washington's long-held obsession with fostering home ownership helped fuel the housing bubble. But when the subprime lending binge really took off from 2003 to 2006, financial institutions subject to CRA weren't the ones leading the way. Neither were government-sponsored behemoths Fannie Mae and Freddie...

Author: /time Magazine | Title: While the Regulators Fiddled ... | 9/17/2008 | See Source »

...should have known better started to drink their own Kool-Aid and lowered their lending standards. It was a mantra compounded by the hard sell that real estate agents used all over the country: Get in now, because it's going to be more expensive tomorrow. Hope you weren't in Miami or Las Vegas when you heard that...

Author: /time Magazine | Title: Getting Suckered by Wall Street — Again | 9/16/2008 | See Source »

...swing through Pennsylvania last month, John McCain visited a Manheim Central High School football practice - not to ingratiate himself with the players, who weren't even old enough to vote, but to identify himself with the gritty, down-home, lunch-bucket values of small-town football. "This is a blue-collar town," Manheim's coach said in his introduction of McCain. "We don't have a lot of flashy athletes. We don't come out with a lot of flash." But the coach explained that his team works hard, plays with discipline and comes through...

Author: /time Magazine | Title: For Obama, Race Remains Elephant in the Room | 9/15/2008 | See Source »

...engaged in an enterprise that ought to be left to the higher IQed. The Coens' tactic could be a caustic commentary on the ineptitude of those employed to keep the secrets of the U.S. government (Osborne and Harry are figures of, respectively, raw bluster and empty charm), if it weren't that virtually everyone in the movie operates on seriously diminished candlepower. Linda believes that her advancing age has rendered her so unattractive that she seeks transfiguration through plastic surgery...

Author: /time Magazine | Title: Baffled After Seeing | 9/11/2008 | See Source »

...with - or, as she says, "chained at the ankle to" - right-winger Pat Buchanan; yet they get along fine in their adversarial roles. If anyone gets belligerent on her new show, it won't be Rachel. And while critics who have called MSNBC the official network of Barack Obama weren't far wrong, Maddow is no cheerleader. During the primaries she assiduously avoided favoring either Clinton or Obama and has said that neither was her ideal candidate. (She'd have been totally committed to a Russ Feingold...

Author: /time Magazine | Title: Rachel Maddow: MSNBC's New Voice | 9/8/2008 | See Source »

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