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...Moreover, credit card asset-backed securities aren't as far-reaching or as complex as mortgage asset-backed securities, and they don't have large amounts of credit-default swaps piled on top of them like mortgages do. As a result, a total collapse of the credit-card industry wouldn't have the same far-reaching ramifications...

Author: /time Magazine | Title: With Defaults Rising, Is a Credit-Card Crisis Looming? | 11/14/2008 | See Source »

...wouldn't know that to look at the Friday's activities on European stock markets. After rises of nearly 4% during Friday trading, London's FTSE 100 index closed up 1.5%, while Frankfurt's Dax and Paris' CAC 40 ended the week up by 1.3% and 0.67% respectively. In the wake of Wall Street's 6.7% gain Thursday, Asian markets also largely advance Friday, with Tokyo's Nikkei closing 2.7% higher, and Hong Kong's Hang Seng finishing 2.4% stronger. Given the macro-economic moroseness, what's with the market giggles...

Author: /time Magazine | Title: Stock Markets Undeterred by Euro Recession | 11/14/2008 | See Source »

...legislator Denny Jacobs to notice Obama's occasional offhand references to Hawaii's nearly year-round 85-degree weather. "When we were down there in January and it was a blistering 2 degrees below zero, he would sit there and say, 'You know, if we were in Hawaii, we wouldn't have this problem,' " Jacobs says. (See pictures of Barack Obama's family tree...

Author: /time Magazine | Title: Hawaii vs. Illinois: Battling over a Favorite Son | 11/14/2008 | See Source »

...lives in a village near Mabini and whose 20-year-old son has been immobile since birth with severe cerebral palsy, says her family's state health insurance covers some bills but not all of them. Her husband is a construction worker in Qatar. "If not," she says, "we wouldn't be eating three times...

Author: /time Magazine | Title: The Motherless Generation | 11/13/2008 | See Source »

...after wondering why flavored milk cost so much more than the plain variety. He tried using a fat plastic straw from McDonald's and a filter made from one of his daughter's school stockings. That didn't work. He soon designed a new type of conical filter that wouldn't clog, and figured out how to create flavor beads by making a tiny core and gradually adding material to it in a tumbler. Sucralose sweetener kept sugar levels - high in most flavored milks - at half a teaspoon, or 2 g, per straw. His first big break came when...

Author: /time Magazine | Title: Star Sip Enterprise | 11/13/2008 | See Source »

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