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PARIS, France – An exhibition of Alexander Calder’s work could only mean dangling bits of wire painted in primary colors, and about a hundred little kids blowing on the mobiles, I thought. I was wrong. Well, partially...

Author: By Lee ann W. Custer | Title: Thinking in Wire | 7/31/2009 | See Source »

...Furthermore, new research suggests that a key assumption made in creating monetary incentives for loan modifications - that economic self-interest would make firms eager to modify loans - may be wrong. Economists at MIT and the Federal Reserve banks of Boston and Atlanta have found that about 30% of borrowers who become seriously delinquent on their payments later catch up. A big deal has been made of the redefault rate - the high number of borrowers who wind up missing even modified payments - but the new finding about the large percentage of loans that "self-cure" indicates that servicers might actually...

Author: /time Magazine | Title: Why the Banks Aren't Modifying Home Loans | 7/30/2009 | See Source »

...Nonetheless, when the officer approached the car, I quickly rolled down the window, reached for my driver's license as my husband got the registration out of the glove compartment, and said to the officer as gently as I could, "Excuse me officer, have I done anything wrong?" (I had not noticed that one of our headlights was out: We were told to repair it at the next gas station.) It would not have occurred to this gray-haired Caucasian female to count on a policeman's sympathy; the last time I tried joking with a policeman, some 40 years...

Author: By Ruth R. Wisse | Title: A Colleague's Concerns | 7/30/2009 | See Source »

...reform efforts were looking distinctly iffy, even though he is absolutely right about the need for change. The system is a fiscal mess, the king of all budget busters. It is also a moral mess, leaving far too many Americans with far too little protection. But the President is wrong when he says, "The system we have isn't working well for too many people." The vast majority - more than 80% in the latest TIME poll - are satisfied with their health care. They may be worried about losing their coverage, and angry as their premiums rise, but the health-care...

Author: /time Magazine | Title: Will Special Interests Stymie Health-Care Reform? | 7/30/2009 | See Source »

First-time visitors to this hamlet on the Nam Song River can be forgiven for feeling a little lost. With shirtless young backpackers drinking beer and suntanning, it looks more like an Ibizan beach town than a Laotian village. But no, you didn't take a wrong turn at the Thai border. This is Vang Vieng - a farm town turned full-moon party, smack in the middle of a communist state. Once a resting place for opium-addled sojourners on sweet, slow tours of the East, Vang Vieng is now a haven of a different sort. It has become...

Author: /time Magazine | Title: Next Time You're in ... Laos | 7/29/2009 | See Source »

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