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...prevented it. And their big profits can be traced not only to skill but also to the government's decision last fall to bail out the financial sector just as the troubles that toppled Lehman Brothers and WaMu and forced Bear Stearns, Merrill Lynch and Wachovia into shotgun marriages began to endanger Goldman and (to a lesser extent) JPMorgan. "No one should be confused about the extent to which the public sector has provided a foundation for financial recovery," White House economic czar Larry Summers said after Goldman and JPMorgan reported their stellar second-quarter earnings...

Author: /time Magazine | Title: Too Much Profit at Goldman and Morgan? | 7/27/2009 | See Source »

...barrel-chested rugby fan, Rajapaksa, 63, will need that common touch to bring Sri Lanka to a true and lasting peace between the island nation's Sinhalese majority (which is mostly Buddhist) and Tamil minority (mostly Hindu). The civil war began in earnest in July 1983, after nearly 3,000 Tamils were killed in several days of systematic anti-Tamil violence. It was the low point of what Sri Lanka's Tamils felt had been decades of official discrimination and military repression in Tamil-majority areas in the north and east. The LTTE took up arms in the name...

Author: /time Magazine | Title: Mahinda Rajapaksa: The Hard-Liner | 7/27/2009 | See Source »

...life in the Belgian seaside resort of Ostend, working in an attic studio above his family's souvenir and novelty shop, a place crammed with seashells, stuffed fish, old books and the Flemish carnival masks that crowd so many of his canvases. His only long absence from the city began in 1877, when he headed to Brussels and the Royal Academy of Fine Arts, trying and failing to become the academic painter he was never suited to be. Three years later, he was back in Ostend, making highly capable portraits, still lifes and domestic interiors and looking very likely...

Author: /time Magazine | Title: Skull and Bones: The Haunted Art of James Ensor | 7/27/2009 | See Source »

...himself as Christ crucified or, better, as a pickled herring being pulled apart by two art critics represented as skulls. Perhaps because he never expected his work to be accepted, he could pursue it to its furthest conclusions. But then - surprise - the honors started coming his way anyway. Museums began acquiring his art and offering him big shows. In 1929, Belgium's King Albert I even named him a baron, which makes you wonder if Albert had ever seen Ensor's etching of a king defecating on the heads of the people. By the time Ensor died...

Author: /time Magazine | Title: Skull and Bones: The Haunted Art of James Ensor | 7/27/2009 | See Source »

...began to vaguely wish that instead of sharing my musical taste with my mom, I knew who MGMT was or gave a crap about Ratatat, like a lot of my much cooler friends...

Author: By Loren Amor | Title: Throwback | 7/27/2009 | See Source »

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