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...relative strength as portfolios readjust, but when might banks and brokers reemerge as stock-market leaders? Before financials can emerge in a leadership position we will need to see some semblance of very stern regulation in the financial field, which will signal to investors that financial companies are clean - at that point they may even be overregulated. Also, between 2001 and 2007 financials added a bunch of capacity, and that needs to recede, through consolidation or simply going out of business. That's still a few years...

Author: /time Magazine | Title: Stock Market: Why Are Financial Stocks Rallying? | 5/19/2009 | See Source »

...plan settles a dispute between the state of California and the Environmental Protection Agency (EPA) that dates back to George W. Bush's White House. Under the Clean Air Act, California has the right to enforce air-pollution standards that are tougher than the rest of the nation's rules - provided the EPA gives it a waiver. In the past, such waivers had been all but automatic - but when California tried to pass stricter emissions standards for vehicles, the Bush EPA balked, setting up a string of legal battles. California pressed its right to green its millions of cars...

Author: /time Magazine | Title: Obama to Tighten Fuel-Economy Standards | 5/19/2009 | See Source »

...such a fragile coalition of politicians, greens and auto executives could collapse. But the very fact the White House brought - and kept - everyone at the table offers some hope as the much tougher battle over carbon cap and trade boils in Congress. "President Obama made the creation of a clean-energy economy a key aspect of his domestic agenda, and he's fulfilling that," says Weiss. It's a good start - but there's still a long road ahead...

Author: /time Magazine | Title: Obama to Tighten Fuel-Economy Standards | 5/19/2009 | See Source »

...patience, which convinces me that he has read the parenting books that instruct us to pre-emptively praise our children for the qualities we want them to develop. Any real recovery will require an "extraordinary sense of responsibility," he says, which just means we roll up our sleeves and clean up after ourselves...

Author: /time Magazine | Title: Do-It-Yourself Heroes | 5/18/2009 | See Source »

...Like clean pieces of paper that can be easily written or painted on.' KAING GUEK EAV, chief jailer for the Khmer Rouge, at his U.N. trial, referring to children used as prison guards by the Khmer Rouge...

Author: /time Magazine | Title: Verbatim | 5/18/2009 | See Source »

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