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...would then hold them as an investment or resell them in the secondary market. This market improved the ability of banks to lend by transferring the risk of the loan default to a third party while providing financing to the bank to make new loans. In time, the public grew accustomed to the increased availability of credit. (See pictures of the printing of money...

Author: /time Magazine | Title: Why the People Who Broke the Financial System Will Profit | 3/25/2009 | See Source »

Manuel knows what it takes to bring the powerful round to his point of view. He grew up poor in Cape Town. Under the apartheid racial-classification system, he was considered "colored," or mixed race, and thus confined to a home in the Cape Flats, the hot, treeless townships between breezy Table Mountain and leafy Stellenbosch. As a 5-year-old, he witnessed apartheid's bite when his classmates were divided by color. "Suddenly half the kids in my class at school were no longer there," he says. "And so politics came to me." In the 1970s, Manuel gravitated towards...

Author: /time Magazine | Title: Trevor Manuel: The Veteran | 3/25/2009 | See Source »

...Born Sept. 21, 1957 in Queensland, Australia, the youngest of four children. Grew up on a dairy farm, where he learned horseback riding and clay target shooting...

Author: /time Magazine | Title: Australian Prime Minister Kevin Rudd | 3/24/2009 | See Source »

...British actors to whom those were the only things that mattered. On any given night in the small provincial theaters of Britain of the 1960s, you might catch the likes of Judi Dench, Michael Gambon, Ben Kingsley, Vanessa Redgrave or Patrick Stewart plying their trade. All were born or grew up during World War II, many in northern English counties known for their booming diction, and all shared the same obsession. Says Stewart, 68: "All we wanted to do was be on the stage doing great plays with great actors. We spent years and years doing play after play...

Author: /time Magazine | Title: Ian McKellen: The Player | 3/19/2009 | See Source »

...tell you how many times we’ve been within a tenth of a second,” Dan laughs. “We’ve even tied for 16th before and had to swim off.”As the Jones’ talent grew in their late teens, the twins abandoned their second sport—cross-country—and focused on the prospect of recruitment. Despite their childhood fixation with local aquatic powerhouse Michigan, the allure of Cambridge changed the brothers’ thinking.“I feel like swimming is a good...

Author: By Max N. Brondfield, CRIMSON STAFF WRITER | Title: A Tale of Two Swimmers | 3/19/2009 | See Source »

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