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...parents were from Jamaica, but Christopher Wallace, a.k.a. the Notorious B.I.G., a.k.a. Biggie Smalls, was straight outta Brooklyn. In the mid-'90s, when the hottest, hardest rap came from California, Biggie restored some bicoastal equilibrium with his quadruple-platinum CD Ready to Die. After that, the headlines were mostly police-blotter stuff. In 1996 his ex-friend, then rival Tupac Shakur was shot and killed in Las Vegas. The following year, when Biggie made an incursion onto L.A. turf to promote his new album, he was shot and killed. (Neither murder was officially solved.) In 2003 Shakur got a zazzy...

Author: /time Magazine | Title: Mall Cop and Other Disreputable Pleasures | 1/20/2009 | See Source »

...more, to get many of these deals done, the FDIC has had to swallow the banks' riskiest assets. The FDIC now owns $15 billion in bank loans and other troubled debts, up from about $300 million at the end of 2006. In its most recent deal to sell California-based IndyMac to a group of private-equity investors, the FDIC agreed to shoulder as much as 75% of the bank's $16 billion lending portfolio in order to close the deal...

Author: /time Magazine | Title: Can the FDIC Handle Its Growing Job? | 1/19/2009 | See Source »

...nearby military school rode waves on redwood boards. In the ensuing years, Santa Cruz became headquarters for surfboard shapers and wet-suit makers and fostered an entirely new beach culture, one that's become popular even in landlocked locales. The city even once sued Huntington Beach in Southern California over the rights to the name "Surf City." (Both cities continue to use the nickname.) (See a picture of Barack Obama bodysurfing...

Author: /time Magazine | Title: Recession Threatens the Original Surf City | 1/19/2009 | See Source »

...effort to contain the interfaith gathering on the Inaugural dais, Jimmy Carter limited the religious slots at his 1977 swearing in to two clergymen, provoking protests from both Jewish and Greek Orthodox groups. Ronald Reagan narrowed the list even further in 1981, bringing his personal pastor from California to deliver both the invocation and benediction. That move prompted fierce criticism from religious circles, and in 1985 the Inauguration once again included Protestant, Catholic and Jewish religious leaders...

Author: /time Magazine | Title: Missing from the Inaugural Dais: Rabbis and Priests | 1/19/2009 | See Source »

...Many critics who are outraged by Warren's role in the Inauguration have unfairly painted him as a leader in last fall's campaign for Proposition 8, the controversial California ballot initiative that outlawed same-sex marriage. It's not as if Warren cut commercials for Prop. 8 or traveled the state urging its passage. But neither was he the silent bystander that some of his defenders have claimed. Less than a month before the election, Warren e-mailed a statement to his 30,000 members declaring, "There is no doubt where we should stand on this issue," and urged...

Author: /time Magazine | Title: Inaugural Pastor: The Two Faces of Rick Warren | 1/18/2009 | See Source »

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