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This kind of activity - flushing out low-rent tenants and replacing them with wealthier new renters - has been a staple of strong real estate markets for years. What was different over the past few years was how widespread this Dickensian business model had become, largely fueled by Wall Street money seeking high rates of return. Another difference was how much the general investing public - through university endowments and pension funds - became party to such morally dubious schemes. Consider it another footnote to the Gilded Age we just passed through. (See pictures of Americans in their homes...

Author: /time Magazine | Title: Should Private Equity Invest in Residential Real Estate? | 1/20/2010 | See Source »

...Isaacs, a Guatemala expert at Haverford College who has testified before the U.S. Congress on peace building in the country. Colom, the first left-of-center President to be elected in more than 50 years, won office with the support of indigenous, rural Mayans and vowed to help alleviate widespread poverty in the countryside with programs that have angered the nation's oligarchy, including cash rewards to poor parents who send their children to school regularly...

Author: /time Magazine | Title: The Guatemalan Who Ordered His Own Murder | 1/14/2010 | See Source »

...objects in question consist mostly of seashells, many of them pierced, with bits of pigment on them. It's always possible that the pigment was simply present in the soil where the shells ended up - but then you'd expect the coloring to be widespread. In fact, it's specific to certain shells. Beyond that, several shells contain different pigments that were clearly mixed together deliberately. In some cases, the pigments were of a type that is only known to have been used (in ancient Egypt, for example, so we have actual records) for body painting. "There's a sector...

Author: /time Magazine | Title: What Did the Well-Dressed Neanderthal Wear? Jewelry | 1/12/2010 | See Source »

...have been, for better and worse, homogenizing the way the world goes mad," writes journalist Ethan Watters. He traces how conditions first widely diagnosed in the U.S., such as anorexia and PTSD, have spread abroad "with the speed of contagious diseases." The growth of Big Pharma and the widespread adoption of U.S. health standards have made the ailing American psyche the primary diagnostic model. By 2008, for example, GlaxoSmithKline was selling over $1 billion worth of Paxil a year to the Japanese, who didn't know they had a problem with depression until drug marketers informed them. Though Watters' indignation...

Author: /time Magazine | Title: The Skimmer | 1/11/2010 | See Source »

...spectacular 2008 attack on the Marriott hotel, the police role has largely been to protect VIPs, she says. "Now they have to deal with a major threat, but have no expertise." Relative to the size of the population, the police are understaffed. And they enjoy little public confidence amid widespread allegations of venality. Other problems listed by Siddiqa include a lack of coordination between various intelligence agencies, poor pay and the dedication of élite units to the "protection of the powerful instead of the country's heartlands...

Author: /time Magazine | Title: Pakistan's Response to Terrorism: Still Inadequate | 1/11/2010 | See Source »

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