Magazine October 4, 2010, Issue

Bank of America

The 10-110 freeway interchange in Los Angeles, Calif. , in 2011. (Eric Thayer/Reuters)
Obama’s $50 billion infrastructure folly is not without precedent

Normal countries have governments. The United States has a bank, and it is in the business of making the oddest assortment of loans you’d find outside of the secret Enron archives. Would you like to take out a loan against 94 percent of the cash value of a life-insurance policy you’ve had for only one year? There’s a federal loan for that. Building a dormitory to house the transient laborers who bring in your peach crop in the summer? ¡Sí, se puede! There’s a federal loan for that, too, with excellent terms: 33 years at 1 percent interest. Perhaps you

In This Issue



Books, Arts & Manners


The Week

The Week

After all those years promoting rainbows, Jesse Jackson has settled on a color he really likes: green.


The Latest