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...prudent lending. This tends to occur as responsible institutions see their market share fall while those of irresponsible institutions rise, and decide to emulate the reckless practices they previously eschewed. The phenomenon was particularly prevalent in the mortgage market. Central bankers cannot escape censure, either. In his memoirs Alan Greenspan, former chairman of the U.S. Federal Reserve, writes: "I was aware that the loosening of mortgage credit terms for subprime borrowers increased financial risk, and that subsidized home-ownership initiatives distort market outcomes. But I believed then, as now, that the benefits of broadened home ownership are worth the risk...

Author: /time Magazine | Title: Back to Reality | 10/1/2008 | See Source »

...real revelation from Equus, which has just opened at Broadway's Broadhurst Theatre, is that Radcliffe proves himself a strong, confident and convincing stage actor. As the troubled 17-year-old Alan Strang, he holds his compact, still-smallish body straight and still, his hands thrust down at his side - a polite, almost stolid youth who, as his story unfolds through the prodding of the psychiatrist tasked with finding the motivation for his horrific crime, is transported into religio-sexual ecstasy in the presence of his equine gods. In a Broadway season when neophytes from Katie Holmes to Cedric...

Author: /time Magazine | Title: Broadway's Equus: Harry Potter on Horseback | 9/26/2008 | See Source »

Both the Obama and McCain campaigns declined to discuss specific details of their preparation. "It's the sausage-making part of the process," says Alan Schroeder, a Northeastern University journalism professor and author of Presidential Debates: Fifty Years of High-Risk TV. "It's the part of the process the public is not meant...

Author: /time Magazine | Title: The Art of the Debate Stand-In | 9/26/2008 | See Source »

...adventurous of us know better, and one of the best examples of deep-underground musical phenomena to be found at the Village is a small specialty label called Sublime Frequencies.The Sublime Frequencies imprint is, in itself, a kind of anomaly. The label is best known for its affiliation with Alan Bishop—one of the three musicians that composed the legendary outsider trio Sun City Girls—who founded the label along with Hisham Mayet. The Sun City Girls, composed of Bishop and his brother Richard along with the late Charles Gocher, gained a considerable cult following with...

Author: By Ryan J. Meehan, CRIMSON STAFF WRITER | Title: From the Sahara to the Square | 9/25/2008 | See Source »

British playwright Alan Ayckbourn has long been the theater's champion daredevil, a man who never saw a stage stunt he wouldn't tackle. One of his early works, The Norman Conquests, was a cycle of three plays that recounted the events of a weekend from three different parts of the same house. One Ayckbourn play moves backward in time. Another conflates all the action in a house, from living room to attic, into a single stage space. His ingenious, nearly unstageable Intimate Exchanges has 16 permutations, depending on the choices made by characters at key points in the action...

Author: /time Magazine | Title: Is Alan Ayckbourn Our Best Living Playwright? | 9/24/2008 | See Source »

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