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...which trades are being made on behalf of the firm and which are being made for clients. At issue as well is which firms would be subject to the Volcker rule. The skeptics say the Volcker rule wouldn't have stopped the collapse of Lehman or another investment bank, Bear Stearns, because they were not traditional banks. (Administration officials say the proposed rule would apply to any firm that owns a bank with federally insured deposits, which Lehman and Bear both did.) What's more, critics say, if you were to limit financial firms to just making loans and buying...

Author: /time Magazine | Title: Is Proprietary Trading Too Wild for Wall Street? | 2/5/2010 | See Source »

...world but the real one," says Ghazaleh, a young graduate student from northern Tehran. If escape is not possible - as appears to be the case for Jack, Hurley and Kate - then at least our trapped heroes can live in paradise, even if a smoke monster or the occasional polar bear threatens their existence. "If this story had taken place in Siberia, then nobody would have watched," says Masoud, a 28-year-old engineer from Tehran. The point is for the viewer to be able to escape, even if the characters cannot. "Today an Iranian says to himself...

Author: /time Magazine | Title: Iran's Secret Obsession: Getting Lost in Tehran | 2/4/2010 | See Source »

...people are saying that proprietary trading didn't cause the financial crisis. So why focus on that? Proprietary investing certainly played a big role in the financial crisis. Bear Stearns, Merrill Lynch, Lehman Brothers, UBS and Citigroup all had large amounts of mortgage bonds or real estate investments that they had parked on or off their balance sheets - but were responsible for. They were chasing the same higher yields that all their investing clients were. Those investments comprised the greatest part of those firms' write-offs. Those weren't client-driven trades. They decided to take them themselves. The idea...

Author: /time Magazine | Title: An Ex–Goldman Partner Lets Loose on Wall Street | 2/2/2010 | See Source »

...love as enslavement that was evident on 2008 sophomore album “Devotion” has been twisted here into an image of love as enchantment. The hypnotic cage is now a hypnotic spell, delivered in a musical atmosphere similar to that which last year brought Grizzly Bear success...

Author: By Kelsey C. Nowell, CONTRIBUTING WRITER | Title: Beach House | 2/2/2010 | See Source »

America needs to solve its problems by itself and for itself. Making Nigeria bear the cross for some of its inefficiencies is face-saving, but won't guarantee the safety of Americans at home or abroad. Zainab Sandah, ABUJA...

Author: /time Magazine | Title: Madam Chancellor, You Look Marvelous! | 2/1/2010 | See Source »

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