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...current crisis gives those arguments new urgency. The downturn has demonstrated how unevenly power is distributed, and how bad that is for all of us. At the World Economic Forum in Davos in January, Manuel warned that billion-dollar bailouts were a distraction from a bigger, supranational task: the creation of truly global regulation to oversee global capitalism. Or as he recently put it to Johannesburg weekly the Financial Mail: "If you were a doctor and your patient had major cardiovascular and lung problems, prescribing an aspirin ... might make him feel better, but would it solve the problem...

Author: /time Magazine | Title: Trevor Manuel: The Veteran | 3/25/2009 | See Source »

...When they've exhausted themselves, speak slowly and calmly about the bigger picture It's key to remind folks, as New York Times columnist David Brooks put it, to focus their attention on the ravenous "tiger ... lunging at your neck" - i.e., the tanking world economy - instead of the "dust bunnies under the bed," the AIG bonuses. Geithner employed this tactic Tuesday: "AIG highlights very broad failures of our financial system," Geithner told the House panel Tuesday. "Our regulatory system was not equipped to prevent the buildup of dangerous levels of risks. Compensation practice rewarded short-term profits over long-term...

Author: /time Magazine | Title: Five Lessons from the AIG Bonus Blowup | 3/25/2009 | See Source »

...through its presidency in 1996, while France held two rounds of presidential elections during its 1995 presidency. In those cases, major E.U. decisions had to be suspended during the changeovers. But with the E.U. facing the greatest economic crisis of its half-century existence, many are wondering how much bigger the knock-on effects will be of that one vote in Prague...

Author: /time Magazine | Title: Czech Government's Collapse Hits the E.U. | 3/25/2009 | See Source »

...system of the Defense Advance Research Projects Agency (DARPA) that eventually evolved into the Internet. "What's exciting here is potential spin-off effects," he says. "The military can invest so much more than the private sector can. They can invest billions into substitute fuels. And they can take bigger risks...

Author: /time Magazine | Title: Will the Military Lead the Way to Greener Technology? | 3/23/2009 | See Source »

...India," BCCI president Shashank Manohar told the media in Mumbai on Sunday. Bollywood superstar actor Shah Rukh Khan, who owns Team Kolkata and was part of the IPL governing council meeting where the decision was taken, was more magnanimous: "We need to respect the general elections, they are much bigger than our issue. This is an attempt to resolve our problems [rather] than create more." (See pictures of cricket...

Author: /time Magazine | Title: Citing Security, India Moves Cricket Matches | 3/23/2009 | See Source »

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