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...weekend tug-of-war was a reminder that Washington has all sorts of agencies that hum along unnoticed in good times but can become pivotal in a crisis. When that happens, the real fighting begins. In this case, the war between small depositors who have managed their money carefully and large, institutional banks that have gambled and lost is playing out across the American economy. So far, Bair has worried about Main Street while working overtime to limit the damage on Wall Street. In the past month, she's overseen the "resolution" (meaning, in a banker's lexicon, the "failure...

Author: /time Magazine | Title: The FDIC's Boss: Sheila Bair, America's Passbook Protector | 10/16/2008 | See Source »

...guarantee not just the new lending by banks but also unlimited deposits in special accounts used primarily by small businesses for things like payroll. Little wonder Bair is cautious: the new program is expected to cover $1.9 trillion, a stunning 42% increase in total FDIC guarantees. In a worst case, widespread losses under the new program would be covered by a special assessment on participating banks...

Author: /time Magazine | Title: The FDIC's Boss: Sheila Bair, America's Passbook Protector | 10/16/2008 | See Source »

Riley: I didn't hear the first presidential debate--I was coming back from abroad--but I saw a picture of [Obama and McCain] afterward ... I thought, This is an interesting example of a case where you would sort of want to see both of those personalities or temperaments blended together. You've got a kind of a hot and a cold, and maybe this is an example where the framers of the original Constitution had it right and the framers of the 12th Amendment had it wrong. Before we adopted the 12th Amendment, the President was the candidate...

Author: /time Magazine | Title: What Kind of Temperament Is Best? | 10/16/2008 | See Source »

...database is meant to address this age-old a cappella quandary. It’s unclear how exactly such disputes were solved before the database existed, but in this particular case, the Opportunes won—“Change in My Life” has been one of their signature songs for over a decade...

Author: By Jessica R. Henderson, CRIMSON STAFF WRITER | Title: La Famiglia A Capella | 10/16/2008 | See Source »

...prejudice. It’s not the kind that claims that black kids are good at basketball, brown kids are good at math, and white kids are good at running the country. In this day and age, most of us have declared those statements unacceptable. And, in this case, they are groundless: I won’t list what stereotypes exist for young black men, but Obama, a law professor and family man, clearly does not fit the mold.In this election, racism has taken another turn: as bad, and maybe worse. In Europe, it once taught that Jews were...

Author: By Elise Liu | Title: Red, White, and Blue | 10/16/2008 | See Source »

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