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...video that accompanies his Chairman Mao Goes to Anyuan, Liu Chenhua explains that he started painting pictures of Mao when he was a child "because I have always had deep feelings for him." Those sentiments come through in his depiction of Mao as a handsome young scholar standing on a mountaintop under swiftly moving clouds. With Jiang Qing's endorsement, it became a "model artwork" and was reproduced more than 900 million times. In the video, Liu explains that a group of printers came to him apologizing that his given name, Chenghua, had been misspelled as Chenhua on the first...

Author: /time Magazine | Title: Seeing Red | 12/11/2008 | See Source »

...connections are striking. You can't look at the black, red and white poster Resolutely Adhere to Execute the July 3rd and July 23rd Proclamations (artist unknown) without wondering if contemporary painter Wang Guangyi would add a Rolex or Coca-Cola logo to it. Zeng Fanzhi's 2005 Chairman Mao with Us looks similar to many of the show's large-scale paintings in which the Great Helmsman marches through fields with peasants (Chairman Mao Inspects the Guangdong Countryside by Chen Yanning) or waves benignly in his bathrobe (Strive Forward in Wind and Tides, by Tang Xiaohe, which commemorates...

Author: /time Magazine | Title: Seeing Red | 12/11/2008 | See Source »

...exists, the NCUA is banking on retail credit unions having a short-term interest in preserving the system through such a trying time. The way the liquidity injection is structured, it is up to the retail credit unions to funnel money into the corporates. In explaining the program, NCUA chairman Michael Fryzel has been quick to point out that retail credit unions have a "vested interest" in their corporate brethren. Let's hope they do, to the tune of billions of dollars...

Author: /time Magazine | Title: Are Credit Unions in Trouble? | 12/10/2008 | See Source »

There are few posts more powerful than chairman of the House Ways and Means Committee, which not only writes tax law but also oversees trade policy and is responsible for the nearly half of the federal budget that goes toward Social Security, Medicare and means-tested entitlements. Complicating the matter for House Democratic leaders is the lack of an obvious successor for Rangel at this time of economic turmoil. The next in line for the post by seniority is California Congressman Pete Stark, one of the most liberal and hotheaded members of Congress. He has been known to challenge other...

Author: /time Magazine | Title: Rangel's Troubles Create a Problem for the Democrats | 12/9/2008 | See Source »

Meanwhile, Rangel, 78 - one of the most recognizable and beloved figures on Capitol Hill - has gone to war with his hometown paper, particularly after its editorial page urged him to step aside as chairman while the ethical questions are being investigated. "His temporary yielding of the gavel is an urgent necessity for a Democratic Congress elected two years ago on promises of an ethical housecleaning," the New York Times editorialized in September. Earlier this week, after the paper published even more serious allegations, Rangel wrote a scathing letter to the editor denying that he had done anything improper with regard...

Author: /time Magazine | Title: Rangel's Troubles Create a Problem for the Democrats | 12/9/2008 | See Source »

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