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...other reason that mortgage modifications are a challenging way to put a floor under housing prices is that this assumes that people who cannot afford a $500 a month mortgage payment can afford a payment of only $350. But in most cases this does not matter. As people turn away from debt and toward savings, a house is no longer a good mattress in which to store cash. Perhaps more to the point, with joblessness on the rise and many middle class household budgets built around two people working full-time, it does not take much bad luck to undermine...

Author: /time Magazine | Title: When Mortgage Assistance Does Not Work | 2/25/2009 | See Source »

...have a really simple and practical message for people: it's not so much the type of diet you eat," says Sacks. "It's how much you put in your mouth...

Author: /time Magazine | Title: What's the Best Diet? Eating Less Food | 2/25/2009 | See Source »

...sale of Impressionist and modern art. The $266 million tallied on Monday - a record auction for a private collection - is good news for the AIDS researchers who will get part of the proceeds; for Pierre Bergé, the designer's former companion and lifelong business partner who put their joint collection on the block; and for Christie's and the entire art market, which hopes the stunning performance will be the shot in the arm needed to give the depressed market a boost in the wake of the financial crisis...

Author: /time Magazine | Title: Saint Laurent Art Sets Records | 2/24/2009 | See Source »

...Nahmad, one of the world's top private art dealers who doubles as a major world currency trader, says the eagerness to invest cash in art is a very visible confirmation of the skepticism that investors have about the crippled financial system. "People today don't know where to put their money. The banks are fragile, the hedge funds don't exist anymore, stocks are weak," says Nahmad. "It's better to stick to art, something you can touch with your hand...

Author: /time Magazine | Title: Saint Laurent Art Sets Records | 2/24/2009 | See Source »

...also unclear why some suspects earn a one-way ticket north while others stay put. In 2004 guerrilla commander Simón Trinidad was extradited and convicted of conspiracy to kidnap three U.S. military contractors, even though he was only loosely linked to the crime. But Colombia's Supreme Court this month blocked President Uribe's order to extradite Alexander Farfán, the cruel rebel prison warden who is accused by those same American hostages of putting chains around their necks and threatening to execute them. Farfán faces federal charges in the U.S. and Colombia for hostage...

Author: /time Magazine | Title: Colombia's Drug Extraditions: Are They Worth It? | 2/24/2009 | See Source »

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