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...January conference call with analysts, Lewis said he was surprised to learn in December that the losses at Merrill were much greater than his team had projected back in September, when the deal was signed. But later, when Lewis returned to testify before Congress in June, his recollection seemed to have changed. He said that it wasn't the losses that surprised him but a projection in mid-December that the losses would accelerate...

Author: /time Magazine | Title: The Rise and Sudden Fall of Bank of America's Ken Lewis | 9/18/2009 | See Source »

...wasn’t possessed of all the ideal attributes,” Culver says. “He just compensated for everything by such determination and will. He was strong and very courageous. Having served in the Congress [with him], the one thing that was so distinctive about Ted Kennedy was he never quit...

Author: By Loren Amor, CRIMSON STAFF WRITER | Title: FOOTBALL '09: Kennedy: Fighter From the Start | 9/18/2009 | See Source »

...used by Vice President Aaron Burr to kill his political rival Alexander Hamilton. And it's as new as the $1 million-plus in fresh campaign contributions heaped on Republican Representative Joe Wilson of South Carolina after he hollered "You lie!" at the President during a joint session of Congress. Anger and suspicion ebb and flow through our history, from the anti-Catholic musings of the 19th century Know-Nothing Party to the truthers and birthers of today...

Author: /time Magazine | Title: Mad Man: Is Glenn Beck Bad for America? | 9/17/2009 | See Source »

...Immigration Representative Joe Wilson may have gotten himself into trouble when he yelled "You lie!" at President Obama during the address to the joint session of Congress, but it certainly seems that Democrats took his outburst to heart. Senate Finance negotiators went back to the table and rewrote the bill to ensure not only that illegal immigrants would be prevented from receiving government subsidies to buy insurance, but that they wouldn't be able to purchase insurance on the so-called exchanges even if they could pay for it in full. The plan also tightens the rules for some legal...

Author: /time Magazine | Title: 5 Things Dems Don't Like About the Baucus Bill | 9/17/2009 | See Source »

...Medicare Baucus has held down the fiscal impact of his legislation by proposing to cut a hefty $500 billion in Medicare costs. The bill claims to do this by trimming a lot of fat out of the system and setting up an independent, nonpartisan panel that will take away Congress's power to set Medicare payment policies and reimbursement rates. But, most controversially, the bill takes a big chunk of money from the Medicare Advantage program, which essentially subsidizes insurers. "We are committed to working with policymakers and stakeholders to find savings in the Medicare program, including Medicare Advantage...

Author: /time Magazine | Title: 5 Things Dems Don't Like About the Baucus Bill | 9/17/2009 | See Source »

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