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...billion to its overall position in U.S. debt. (Beijing sold $9.2 billion of long-term U.S. Treasuries in November but bought $38.2 billion of short-term government notes.) Indeed, part of the reason short-term interest rates are so low in the U.S., as Council on Foreign Relations economist Brad Setser notes, is that foreign central banks - including China's - are doing the same thing private investors have been doing: pouring funds into short-term, highly liquid, dollar-based assets. If China reversed course and pulled money out of the U.S. in a big way, it would ravage the value...

Author: /time Magazine | Title: Behind Geithner's China-Currency Charge | 1/23/2009 | See Source »

...Indian Slumdog Millionaire, with 10 nominations, and the all-Hollywood The Curious Case of Benjamin Button, with 13. One film cost $15 million, the other 10 times that. Slumdog is about kids who grow into teenagers amid the civil and class chaos of modern Mumbai; Benjamin Button, about someone (Brad Pitt, no less) who's born an old man and ages backward, reaching adolescence when most people are hitting senility. Both pictures have social agendas, but they are more vigorous and less predictable than the Broadway stage-based Doubt and Frost/Nixon. The Pitt movie has already taken in more than...

Author: /time Magazine | Title: Oscar Wrap: Slumdog and the Old Dogs | 1/22/2009 | See Source »

...honor famous people - stars who might actually prop up the sinking ratings of what was once the highest-rated TV show except for the Super Bowl - it chose the wrong ones, or the right ones in the wrong films. It's sweet that Angelina Jolie will accompany her beau Brad (Best Actor nominee for Benjamin Button) to the ceremony, but a shame that she was made a Best Actress finalist for her work as the desperate mother in Changeling, a performance so miscalibrated that it yanks the story out of its period whenever she's on screen. (Changeling, directed...

Author: /time Magazine | Title: Oscar Wrap: Slumdog and the Old Dogs | 1/22/2009 | See Source »

...running clearance. Why trust the executives who put a company in bankruptcy to manage a sale that covers their losses? Plus, soon-to-be unemployed managers are busy fishing for other jobs. They don't have a real stake in the sale. (Read "Q&A with Best Buy CEO Brad Anderson...

Author: /time Magazine | Title: How Liquidators Profit from Circuit City's Loss | 1/22/2009 | See Source »

...there's a whole bunch of Brad Pitt lookalikes on television anymore. There are so many other choices now, I think when people watch the news it's because they really choose to do it. Obviously you have to be able to speak well, but speaking skills and the ability to explain something simply trump looks. Thank...

Author: /time Magazine | Title: Chuck Todd: The Goateed Guru of Politics | 1/16/2009 | See Source »

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