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...Pulitzer Prizes - or his 1968 shocker, Couples, in which he dove fearlessly into the sexual revolution, he looked deeply and clearly into the swamps of human experience and reported back to us what he saw with a matchless precision and a warm, generous judgment. (Read a 1968 TIME cover story on Updike...

Author: /time Magazine | Title: John Updike, Literary Heavyweight | 1/27/2009 | See Source »

...FINRA and other self-regulators historically have played it safe in their enforcement," says Columbia's Coffee. (Self-regulatory organizations do not usually draw their authority directly from Congress, and may be financed by the industry they cover.) "FINRA's been tougher than its predecessors, but it still tends to focus more on outlying and smaller firms; it's been more deferential to the bigger players. At SEC, she has to clean house and needs truly aggressive prosecutors." (See who's to blame for the current financial crisis...

Author: /time Magazine | Title: Can Mary Schapiro Revitalize the SEC? | 1/27/2009 | See Source »

...kind of report & fail to address these Qs, press jumps on you wanting to know answers; while if you give answers that aren't fully honest (e.g. nothing re Hillary) you risk hugely compounding the problem by getting caught in half-truths. You run risk of turning this into 'cover-up.' " - from a note that Stern wrote regarding the firing of the White House travel office staff, allegedly at the request of then-First Lady Hillary Clinton. Some people claimed that the employees were fired so that Hillary could appoint friends. (New York Times, January...

Author: /time Magazine | Title: Climate Change Envoy Todd Stern | 1/26/2009 | See Source »

...result was an environment in which official Washington seemed to believe that no home loan could be a bad home loan. "What we did and what we started was not just to push banks to make marginal loans, but to give them an excuse and to give them regulatory cover," he said. "Countrywide became HUD's poster child for what a good lender was like...

Author: /time Magazine | Title: Phil Gramm Says the Banking Crisis Is (Mostly) Not His Fault | 1/24/2009 | See Source »

...least startling aspect of a transaction that if confirmed next month following a staff consultation process - and barring any intervention by the British government - will open a new and bizarre chapter in Anglo-Russian relations. Lebedev, after all, is a former KGB operative, who spied on Britain under diplomatic cover during the Cold War, by his own account scouring news sources such as the Standard for tidbits to feed to his handlers back home. His exotic pedigree has caused a few splutters. Richard Ottway, a Conservative MP, said he felt that "the fact that [Lebedev] has been a member...

Author: /time Magazine | Title: From Soviet Agent to London Newspaper Proprietor | 1/23/2009 | See Source »

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