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...When Madoff's Ponzi scheme finally collapsed in 2008, an SEC Enforcement attorney testified that it took only 'a few days' and 'a phone call to DTC' to confirm that Madoff had not placed any trades with his investors' funds," the report said...

Author: /time Magazine | Title: SEC Internal Review Cites Multiple Failures on Madoff | 9/2/2009 | See Source »

Authorities have described the incident as gang-related. But the Baltimore City State's Attorney's Office has not confirmed that it was in fact a gang shooting. No gang business was being transacted: there does not appear to have been a drug deal involved. The violence seems to have stemmed from a yearlong retribution pattern between two "gangs" that, while involved in selling drugs, were at each other's throats mainly because of the kidnapping of two younger brothers of a man who is linked with one of the groups. At least five homicides are believed to be part...

Author: /time Magazine | Title: Experts: Street Crime Too Often Blamed on Gangs | 9/2/2009 | See Source »

...Sachs has set aside some $11.36 billion so far in 2009 in total compensation and benefits for its 29,400 employees. That's about on pace with the record payout the firm made in 2007, at the height of the bubble. Thanks to Andrew Cuomo, the New York State attorney general, we know that in 2008, while Goldman earned $2.3 billion for the year, it paid out $4.82 billion in bonuses, giving 953 employees at least $1 million each and 78 executives $5 million or more (although Goldman's top five officers, including Blankfein, declined a bonus...

Author: /time Magazine | Title: The Rage Over Goldman Sachs | 8/31/2009 | See Source »

...McCain's reaction this way: "[S]everal Members of Congress, including the full memberships of the House and Senate Intelligence Committees and Senator McCain, were briefed by General Michael Hayden, Director of the CIA, on the six techniques that we discuss herein," writes Steven G. Bradbury, a deputy assistant attorney general in the July 20, 2007, memo, which cites a CIA summary of the discussions. "In those classified and private conversations, none of the Members expressed the view that the CIA detention and interrogation program should be stopped, or that the techniques at issue were inappropriate." (See TIME's photos...

Author: /time Magazine | Title: McCain Denies Giving O.K. to a CIA Torture Tactic | 8/31/2009 | See Source »

...months later, however, Ridge says he did get the sense that politics might be at play. There was a heated discussion on the weekend before the 2004 election, in which Defense Secretary Donald Rumsfeld and Attorney General John Ashcroft made their case in vain to raise the terrorism threat level. Ridge now admits that he thought political calculation might have been at play. (Polls supporting Bush tended to spike when the terrorism threat level went up.) But he is not about to accuse either Rumsfeld or Ashcroft of letting politics cloud their judgment. "I'm not trying to second-guess...

Author: /time Magazine | Title: Ridge: Second Thoughts, but Not Second-Guessing | 8/31/2009 | See Source »

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