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...most amazing things," says McDonald, who has since written a book about his time at Lehman, titled A Colossal Failure of Common Sense. "This kid didn't even have a college degree." (See the best business deals...

Author: /time Magazine | Title: Is Proprietary Trading Too Wild for Wall Street? | 2/5/2010 | See Source »

...Lehman lost more than $32 billion from proprietary trading and principal transactions during the year and a half leading up to the financial crisis and since, according to a TIME analysis of Securities Exchange Commission filings and bankruptcy-court documents. That's nearly double the $18 billion in common equity the firm had in late 2006, just before mortgage bonds started going sour in the beginning stages of the financial crisis; it was more than enough to wipe the firm...

Author: /time Magazine | Title: Is Proprietary Trading Too Wild for Wall Street? | 2/5/2010 | See Source »

Moreover, removing DADT will not be an ephemeral change; the authoritative structure of the military—in which those who serve share a sense of duty with a common cause and clearly delineated hierarchy—will ensure the longevity of this essential step toward a more equal America. Among the best ways to inspire tolerance against bigotry is through an immediate personal relationship, and we feel that homophobia in the military will begin to dissipate as soon as soldiers realize that some of their companions—the ones they have sworn to protect—are homosexual...

Author: By The Crimson Staff | Title: Don’t Stall, Don’t Wait | 2/5/2010 | See Source »

...Spending time at a college where everyone dreams and imagines having a terrific career and making a difference in the world, “The Wire” was a nice reminder that in the real world, happy endings are not a guarantee (or even likely): half-measures are common, and self-interest usually reigns supreme. Neither conservative nor liberal in tone, the show is unabashedly critical of every major institution that affects our lives today, from government to corporations and newspapers. There’s a reason the show never won an Emmy, while “Entourage?...

Author: By Ravi N. Mulani, CRIMSON STAFF WRITER | Title: Bubble’s Redemption | 2/4/2010 | See Source »

...multiple marrier, like Hopper, making a will seem fair to all family members is particularly tricky. Adult offspring - there are three grown Hopper children - may try to pre-empt an estate battle by taking care of business before the funeral. "It's very common when we have couples marry later in life and one party develops an illness, the adult children will precipitate the initiation of divorce proceedings," says Joseph Cordell, a domestic-litigation attorney in Michigan. "They distrust the new spouse." Lest we forget, Anna Nicole Smith's fight for a share of her nonagenarian husband's estate went...

Author: /time Magazine | Title: Facing Death and Divorce at the Same Time | 2/4/2010 | See Source »

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