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...piece came out, two finance professors at Harvard Business School, David Scharfstein and Victoria Ivashina, wrote a paper called "Bank Lending During the Financial Crisis of 2008." Scharfstein and Ivashina focused in on a database of new loans made to large corporations and documented a 36% drop during August-October 2008, as compared with the three months prior. They, too, argued that drawn-downs were artificially inflating overall lending figures. Yes, there was lending, but it was involuntary, and often to struggling companies - like GM and Tribune - that banks might not otherwise give money to. "If credit lines get drawn...

Author: /time Magazine | Title: Is There Really a Credit Crunch? | 12/24/2008 | See Source »

Certainly, though, the Apollo 8 crew had earned the right to celebrate. It was Christmastime 1968 - the end of a hard year. In April, Martin Luther King Jr. was murdered; in June, Bobby Kennedy followed; in August, the Democratic Convention in Chicago dissolved into bloody rioting; and in each month of that exceedingly bloody year, 1,200 Americans had died in Vietnam. So people had bigger things on their minds in October when Apollo 7 - the first of the three-man Apollo ships - had orbited the Earth. And people might have been equally indifferent in December when Apollo 8 went...

Author: /time Magazine | Title: Remembering Apollo 8, Man's First Trip to the Moon | 12/24/2008 | See Source »

...force behind Kuzumaki's programs is Tetsuo Nakamura, the town's mayor from 1999 until August of last year. Nakamura, a veterinarian and farmer with the handshake of a salesman, decided nearly a decade ago that Kuzumaki could become a role model for the rest of the country by developing itself as an exemplar of environmental best practices. "It was clear to me that the environment and food would be critical issues in the 21st century," says Nakamura. So he set about working with, and getting funding from, the government, NEDO, and Tohoku Denryoku, a Japanese power generation company...

Author: /time Magazine | Title: A Japanese Town That Kicked the Oil Habit | 12/22/2008 | See Source »

...oldest friend, whose daughter has an August birthday, holds her party at the local amusement park. The kids get bracelets that let them go on all the rides. They quickly outgrew the little trains but could ride the bumper cars; then they outgrew those but could take on the climbing wall. Now they prefer the roller-skating rink, where boys and girls hold hands. As with the pencil lines on the kitchen wall, we've watched them grow through their small rituals. If ambition and opportunity spin us off in every direction, traditions reel us back to where we came...

Author: /time Magazine | Title: Listen to the Kids | 12/17/2008 | See Source »

...remixes. Funny stuff, right? Well, Amnesty International does not agree. For years, the human rights group has released reports detailing their continuing concerns over the use of stun guns. Their latest again looks at deaths from Taser use, "based on information on reported deaths from June 2001 to 31 August...

Author: /time Magazine | Title: Are Tasers Deadly? | 12/17/2008 | See Source »

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