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...Then there's all that bad debt. We've now mostly worked through the subprime mortgage mess that started this whole debacle, but lots more losses - from prime mortgages, credit cards, commercial real estate, you name it - are still to come. Morgan Stanley economist Richard Berner estimated on Tuesday that even in the most bullish case, banks and other lenders have only recognized about half the $1.7 trillion in loan losses they're likely to suffer over the course of the downturn. In Berner's "bear" case, losses will top $4 trillion...

Author: /time Magazine | Title: Why the Economic Recovery May Be Disappointing | 5/5/2009 | See Source »

...this bad-debt overhang, however big it turns out to be, that is likely to cast a pall over the recovery for years to come. An economy, even the world's biggest, simply can't work its way out of a mess like that in a few months' time. So enjoy those green shoots as they sprout. They're good news, but they're not enough to live...

Author: /time Magazine | Title: Why the Economic Recovery May Be Disappointing | 5/5/2009 | See Source »

...Nobody Move” is—anticlimactically—a mild pulp pastiche that doesn’t even seem to rise to its own expectations.The plot is appropriately simple: Jimmy Luntz is a barbershop singer with a gambling addiction and an outstanding debt to a small-time loan shark. The supply of clichés at work throughout the novel’s first pages practically spell out the remainder of the story—a sultry, femme fatale of a love interest; a cross-country chase; a stoic, streetwise henchman looking to collect Luntz?...

Author: By Ryan J. Meehan, CRIMSON STAFF WRITER | Title: Johnson Does Noir | 5/5/2009 | See Source »

...number of big banks? The issue is a red herring. In the case of Chrysler and GM, federal money is going into the companies and has to be paid back if the restructuring of the American auto industry is going to be successful. Whether that is a debt repayment at Chrysler or an increase in the value of the equity in GM is hardly the issue. The issue is whether the restructurings work so that the companies can make money and deliver themselves from being wards of the state...

Author: /time Magazine | Title: Chrysler Makes a GM Bankruptcy Harder | 5/4/2009 | See Source »

...Asia together as a single, loosely formed economic entity lead by China and Japan, two of the four largest countries in the world as measured by GDP. The program makes the region financially stable, probably more stable than Europe is now with its rising unemployment, stagnant economies, and sovereign debt which faces downgrades in many cases. (See pictures of Obama's recent trip to Europe...

Author: /time Magazine | Title: Asia's Economies Form an Alliance the West Can't Match | 5/4/2009 | See Source »

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