As Americans watched their nest eggs sink during the Great Recession, many wondered whether they would ever be able to retire. Come this fall, millions of workers who invest in 401(k)s will learn their plans are probably worth even less than they thought.
"Fees take away from the accumulated savings of your lifetime," says Mary Beth Franklin, a contributing editor at InvestmentNews.
Daily auctions are held on foreclosed properties in front of the county courthouse in Corona, Calif. About 80 bidders, representing investors, show up to bid on properties.
Credit Yuki Noguchi / NPR
Mike Strugatz is an investor who's bought and renovated about two dozen distressed homes in the Riverside and Lake Elsinore area. He says with less inventory on the market recently, it's getting harder to find properties, and banks are demanding higher prices even for destroyed homes.
Credit Yuki Noguchi / NPR
Jennifer Bryant has made more than 30 offers on houses, mostly from her cellphone, in many cases without viewing the property. She has lost every bid, and says she often loses to all-cash buyers.
For-sale homes in California are sparse, even in areas with high foreclosure rates. It has led to buyers like Jennifer Bryant, who is willing to throw money at just about anyone willing to sell her a house.
Since February, Bryant has made 35 offers on homes in Riverside, only to be elbowed out by other bids. With few houses available and many bidders chasing these properties, she feels she has, at most, an hour to consider each house.
Orlando (David Furr), Rosalind (Lily Rabe, right) and Celia (Renee Elise Goldsberry) in <em>As You Like</em> <em>It</em>.<em> </em>The Public Theater's production opens the 50th-anniversary season at New York's Delacorte Theater.
Credit Joan Marcus / The Public Theater
Kevin Kline in the 1983 Shakespeare in the Park production of <em>Richard III</em>, years after his first job at the Delacorte Theater carrying a spear in a different production of the same play.
Credit Martha Swope / New York Public Library
Deborah Rush and Meryl Streep in the 1978 Shakespeare in the Park production of <em>The Taming of the Shrew</em>. Streep did a reading of <em>Romeo and Juliet</em> with Kline on June 18, to mark the Delacorte's 50th anniversary.
On Monday evening, one of New York's most cherished cultural institutions celebrated an anniversary. The Delacorte Theater, home of the free annual Shakespeare in the Park, turned 50, and Meryl Streep and Kevin Kline led an all-star cast in a staged reading of Romeo and Juliet.
When Kline was still a student in the drama program at The Juilliard School, he made his professional debut at the Delacorte. "My first job was carrying a spear in Richard III," he remembers.
Retired senior police investigator Zafar Qureshi, 59, stands outside his home in Lahore, Pakistan, where security guards are stationed 24 hours a day. The former police official has probed some of the highest profile cases of official misconduct in Pakistan, and says he fears for his safety and that of his children in a country that he says is steeped in a "culture of corruption."
Credit Julie McCarthy / NPR
Arsalan Iftikhar Chaudhry (center), son of Pakistan's Supreme Court Chief Justice Iftikhar Muhammad Chaudhry, leaves the Supreme Court after attending a hearing. He is facing allegations of accepting bribes from a powerful property developer totaling some $4 million.
Credit Aamir Qureshi / AFP/Getty Images
Sonia Naz (left) accused two Punjab police officers of extorting money from her and then sexually assaulting her after she complained to a court. Qureshi's investigation supported her claims, but he says he was forced out of a job as a result. Meanwhile, Naz's seven-year-old case has been revived by the Supreme Court.
Pakistan's National Assembly has been summoned to elect a new prime minister for the fragile coalition of President Asif Ali Zardari. A consensus candidate, current Textile Industry Minister Makhdoom Shahabuddin, emerged soon after the Supreme Court's dramatic firing of outgoing Premier Yusuf Reza Gilani.
The court disqualified Gilani from office this week for defying court orders to pursue dormant corruption charges against President Zardari.
Mexicans go to the polls July 1 to choose their next president, and polls show that voters seem inclined to embrace the past. The center-left Institutional Revolutionary Party, or PRI, which ruled the country for more than seven decades before being ousted 12 years ago, holds a solid lead.
But Mexico's young are making their voices heard: Some fear a return of authoritarian rule; others simply want jobs.
Aung San Suu Kyi finally received her honorary degree from Oxford University after it was initially awarded in 1993. In her speech, Suu Kyi praised Oxford for helping her see humankind at its best during her long years under house arrest in Myanmar.
Archbishop William Lori of Baltimore, shown speaking at the state Capitol in Hartford, Conn., in 2009, is the head of the U.S. bishops' Fortnight for Freedom campaign.
Credit Jessica Hill / AP
Archbishop William Lori, pictured speaking on religious freedom at the U.S. Conference of Catholic Bishops' annual fall assembly, says Catholics are behind the Fortnight for Freedom campaign. He dismissed a poll that found 57 percent of Catholics are not worried about their religious liberties.
Credit Patrick Semansky / AP
Cardinal Timothy Dolan of New York brandishes a foam finger promoting the "Fortnight for Freedom" campaign last week.
The U.S. Conference of Catholic Bishops launches what it's calling the "Fortnight for Freedom" on Thursday — two weeks of praying and fasting because the bishops believe the church's religious freedom is being threatened by the Obama administration's health care policies.
"This is the first time that I've felt personally attacked by my government," parishioner Kathleen Burke says after a service at Our Lady of Lourdes Catholic Church in Bethesda, Md.