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...creating a short-term opportunity for traders. Here's how it works with a currency like the Indonesian rupiah: the six-month London Interbank Offer Rate (or LIBOR, the benchmark for U.S. dollar borrowing), is now hovering at slightly less than 1%. That rock-bottom rate stands in stark contrast to the 6.5-7% rate of interest one can get from a short-term money market bill in Indonesia, where the 5-year government bond currently yields roughly 9%. The wide gap between the carrying costs of the two currencies is what is fueling the dollar-rupiah carry trade, analysts...

Author: /time Magazine | Title: Who Loves the Weak Dollar? Currency Traders | 9/30/2009 | See Source »

...reminiscent of an airport hanger, reflects the Imam's austere outlook. During his rule, Khomeini received all manner of dignitaries in a bare room at his daughter's modest residence in the theological center of Qum, and refused to eat anything more extravagant than fruit, yogurt and rice. In contrast, his sarcophagus has now been enclosed within a gaudy green and white cage, with the floor inside filled knee-deep in cash, bills inserted as donations by the pious. Some visitors are so zealous they openly weep at the sight of the tomb, including a few of the grim-faced...

Author: /time Magazine | Title: Has the Iranian Regime Forsaken Khomeini? | 9/29/2009 | See Source »

...Franklin D. Roosevelt took office in 1933, Congress legislated a transformation of the financial sector, establishing a new regime of securities regulation, creating the Federal Deposit Insurance Corporation and segregating commercial banks from Wall Street. It's not obvious that we need such a drastic overhaul now, but the contrast with the 1930s is stark. Ironic, too. By leaving financial markets alone, Mellon and his kindred spirits at the Fed ushered in an economic collapse that led to permanent government intervention in the financial sector. By intervening, Paulson and his kindred spirits at the Fed seem to have headed...

Author: /time Magazine | Title: The Bailout's Biggest Flaw | 9/28/2009 | See Source »

...Intimacy” is presented as one cohesive collection, but is actually divided between small, sepia-toned images and much larger color digital prints. The Kodalite photographs of the former category, mounted on peeled gold leaf on top of bright red paper, exude a sense of intimacy. In contrast, Palma’s digital photographs feel artificial. The surrealist elements Palma is known for including in his art are integrated well in the Kodalite images, so they do not seem out of place, despite the fact that they are obviously fantastic. The content of the digital photographs, however, seems computer...

Author: By Kristie T. La, CONTRIBUTING WRITER | Title: Palma Exhibition Fails to Make Cohesive Statement | 9/25/2009 | See Source »

...vicissitudes of life. On “Riot Act” and “Pearl Jam,” their most overtly political albums, Eddie Vedder sounded like he had the weight of the world on his shoulders. “Backspacer,” by glorious contrast, features Vedder and the band deriving immense enjoyment from their craft. In every riff and solo, in Stone Gossard and Jeff Ament’s versatile rhythm section and Matt Cameron’s punchy drumming, their pleasure and relaxation can be felt. But the biggest revelation is Vedder...

Author: By Keshava D. Guha, CRIMSON STAFF WRITER | Title: Pearl Jam | 9/25/2009 | See Source »

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