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...government should not intervene. It should leave overleveraged financial institutions to default on their derivatives obligations and, if necessary, file for bankruptcy. Much of the crisis has arisen from miscalculating the risks involved in a large book of positions in these derivatives. It is only logical that these institutions pay for their poor management...

Author: /time Magazine | Title: Let Risk-Taking Financial Institutions Fail | 9/29/2008 | See Source »

...leadership change followed a demand by a major kosher-certification agency, the Orthodox Union, that Agriprocessors replace its CEO or risk losing the agency's seal of approval, which would be a catastrophic blow for a kosher meat supplier. Questions had also arisen over whether the slaughtering techniques used in the plant had complied with koshering standards, after a video filmed undercover in the plant by the animal rights group PETA showed slaughtering techniques that some observers suggested were at odds with koshering practices. Federal inspectors cited Agriprocessors for violating a regulation pertaining to humane slaughtering methods, although they...

Author: /time Magazine | Title: A Kosher Meat Plant Struggles to Recover | 9/26/2008 | See Source »

...community that has been brutalized, it is inevitable that there will be a pool of ready recruits," says political commentator Manoj Joshi, noting the anti-Muslim riots in Mumbai (formerly Bombay) in 1993 and similar ones in Gujarat in 2002. "It is a very serious situation, which has arisen because our government has failed to accept the ground reality," says security analyst B. Raman, former head of the counterterrorism division of the Research and Analysis Wing, India's external intelligence agency. "A growing percentage of India's Muslim population is getting alienated. They are increasingly acquiring their own expertise...

Author: /time Magazine | Title: India: The Terrorists Within | 7/27/2008 | See Source »

...city center - has experienced a rapid renaissance thanks to the closure of the docks and the cleaning up of once polluted waterways. The addicts have been replaced by white-collar workers, who live in waterside lofts and entertain themselves at the many galleries and restaurants that have arisen...

Author: /time Magazine | Title: On the Waterfront | 6/12/2008 | See Source »

...very unusual, if not unknown, to permit co-defendants to have such prolonged contact during the sensitive arraignment process in a conspiracy trial, in which decisions can be made that shape the proceedings. It remained unclear whether the opportunity for an extended conversation between the prisoners had arisen inadvertently, or had been planned by the court for prisoners who have been isolated for years and held under the strictest control and security. Whatever the reason, the result was clear: All five chose to represent themselves in court, with lawyers on hand to provide advise as needed, a move that forshadows...

Author: /time Magazine | Title: Alleged 9/11 Plotter Holds Court | 6/5/2008 | See Source »

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