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...futures, driving the price to unheard-of levels. Worse still, we would have to worry about the oil suppliers themselves getting in on the futures-price action. They can afford to take on huge risks in the oil-futures market because they make such large profits by comparison...

Author: /time Magazine | Title: Why There Should Be More Oil Speculation, Not Less | 7/10/2009 | See Source »

...From July 9 through July 12, the Macau Poker Cup, a bimonthly tournament sponsored by PokerStars Macau, will see more than 100 players competing for a minimum of $129,000 in the main event. The event pales in comparison with the annual World Series of Poker (WSOP) in Las Vegas, which draws in 7,000 players for a grand prize of $8.5 million at its main event, but the Macau tournament's organizers have high hopes for the game's potential in Asia. "The gold standard is the World Series of Poker," says Fred Leung, marketing manager for poker company...

Author: /time Magazine | Title: Does Poker Stand a Chance in Asia? | 7/10/2009 | See Source »

...that passing health-care reform under the reconciliation rule poses as many problems as it solves for the Democrats and for health reform. Any bill that passes under the reconciliation process must be deemed by the Congressional Budget Office to pay for itself in the next six years. (By comparison, a bill that passes under regular procedures has an 11-year window.) As a result of that tighter fiscal constraint, Conrad said, any bill that passes under reconciliation would likely provide "dramatically less health reform." And the parliamentary hurdles are high. Opponents would have the power under Senate rules...

Author: /time Magazine | Title: Can Democrats Pass Health-Care Reform on Their Own? | 7/9/2009 | See Source »

...goes without saying that Stephen Colbert owes Baron Cohen a debt too large to repay, but by comparison, Colbert plays it safe. His guests always know that Colbert's right-wing blowhard character is a put-on, and they happily play along. When Brüno tries to start a cuddle party with Texas Representative Ron Paul - "Has anyone ever told you, you look like Enrique Iglesias?" - the flustered former presidential candidate is definitely not in on the joke. As Paul makes his panicky escape down a hallway, he clues in one of his aides: "This guy is a queer...

Author: /time Magazine | Title: Brüno's Sacha Baron Cohen: More Than a Comedian | 7/8/2009 | See Source »

...hulking costs that, much as society may value them, eventually weigh on states' financial health. In New York, unfunded state pension liabilities average $2,633 per person. Massachusetts' tab is even larger, at $3,372 per capita, although that's nothing compared to New Jersey's $9,833. By comparison, California seems in something of a sweet spot, at $1,325. Still, that's hefty compared to Florida...

Author: /time Magazine | Title: After California: Which States Are in the Most Peril? | 7/8/2009 | See Source »

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