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...thing that should have raised suspicions is that the bank's review of its own investments caused it to pull $250 million from a Madoff feeder fund, Fairfield Greenwich, just months before Madoff was arrested. Chase took this action because it became "concerned about the lack of transparency," and its due diligence "raised doubts" about Madoff's operation...

Author: /time Magazine | Title: Madoff's Banker: Where Was JPMorgan Chase? | 3/25/2009 | See Source »

...Nonetheless, despite these obstacles, TALF could succeed in restoring the secondary market for ABS. Although rating agencies have yet to demonstrate that they can accurately assess the credit risk of these instruments, changes in the economy or regulatory action could alter this perception. And in the secondary market, buyers' concerns of ABS resold by investors may be mollified by their ability to secure relevant data on the underlying assets. For home loans, which will be eligible for securitization in future versions of TARP, this data could include the average FICO score of the borrowers, location of the property, the loan...

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

...thinly masked homonym for a very rude Chinese phrase involving sex acts and a close relative. By the time one enterprising netizen had concocted a video clip purporting to show grass mud horses cavorting in an equally mythical (and equally rudely named) desert, China's net nanny swung into action and attempted to erase all trace of the offending animal...

Author: /time Magazine | Title: As China's Olympic Glow Fades, So Do Hopes for Reform | 3/25/2009 | See Source »

...that's prompted a backlash from opponents who believe the goal should be getting France to practice the color-blind promise of the Republic - not swapping it for U.S.-style multiculturalism and affirmative action. "Even if it's out to do the right thing, positive discrimination remains discrimination, and classifying people by race and ethnicity is in a manner itself racism," argues Malek Boutih, former head of France's seminal civil rights group S.O.S. Racism, and now a member of the Socialist Party's national bureau. "You don't surrender your principles because they are being abused in practice...

Author: /time Magazine | Title: Should France Count Its Minority Population? | 3/24/2009 | See Source »

...emerge between the Iraqis themselves - particularly between Arabs and Kurds. According to Gen. Caslen the Multi-National Division North Commander, conflict between Arabs and Kurds is "the most dangerous course for Iraq right now. It is very dangerous, very serious, and it is going to require a lot of action and transparency to deal with the issue." (See a month-by-month catalog of America's six years in Iraq...

Author: /time Magazine | Title: The U.S. Military: Mediating Between Kurds and Arabs | 3/24/2009 | See Source »

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