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...fact that the government ownership of IndyMac is coming to an end in just eight months is successful," says Kevin Stein, a former associate director of resolutions at the Federal Deposit Insurance Corporation (FDIC) and an investment banker at FBR Capital Markets. "Nationalization is a tool that has been used in the past and can be effective in the future in certain situations...

Author: /time Magazine | Title: Nationalized Banks: Why They Might Work | 3/6/2009 | See Source »

...ancient Chinese may have been the first to use the throne - a flush toilet was found in a tomb of a Western Han Dynasty (206 B.C. to A.D. 24) king - and they invented toilet paper in the 6th century. Modern Toilet owner Wang Zi-wei, 29, an ex-banker, got his idea from the Japanese robot cartoon character Jichiwawa, who loves to play with poop and swirl it on a stick. Inspired by that image, Wang began selling chocolate ice cream swirls on paper squat toilets. Customers loved them and wanted more edible excretion experiences, so he opened Modern Toilet...

Author: /time Magazine | Title: Edible Excretions: Taiwan's Toilet Restaurant | 3/2/2009 | See Source »

...government's move left Munyaradzi Ruzvidzo, one of the 38 licensed stockbrokers on the exchange, with little to do. Where once he enjoyed the frenetic lifestyle of a much sought-after banker, he has spent most of the past three months working "about five minutes" a day. He would show up at the exchange to post sell orders, but there were never any buyers - the hostile political climate has scared off even the most battle-worn investors. "It's only procedural," he says. "I come into the office, and there's just nothing going...

Author: /time Magazine | Title: 25-Min. Workweek on Zimbabwe's Stock Exchange | 2/26/2009 | See Source »

...actually worth imagining. The government has so many balls in the air between the financial systems and deteriorating parts of the industrial sector that it may not have either the capital or intellectual capacity to go around. The Treasury has just appointed a prominent investment banker to help oversee the mess in Detroit, but it would take an army of financiers to first comprehend and then advise on what should happen to GM (GM) and Chrysler. The period for comprehension is already in the past. The trouble in the auto industry has to be addressed in the next few weeks...

Author: /time Magazine | Title: AIG's Distress: Are There Enough Fingers for This Dike? | 2/24/2009 | See Source »

...Service is also hardly equivalent to genuine human decency—and it’s a lot easier. I much prefer the humane banker to the manipulative social worker. I have seen one student group whose members were so busy planning their high-minded service events that they left their own bridge housing rooms filthy for nameless custodians to tidy up. Maybe they were in a rush to go petition University Hall to offer custodians higher working wages. I bet those custodians wished that the students had just thrown away their trash instead...

Author: By Garrett G.D. Nelson | Title: Beyond Service | 2/23/2009 | See Source »

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