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...risking a stalemate in the Senate Banking Committee, where the GOP and several Democrats have expressed doubts about a new bureaucracy. After health care, that's a price the Administration is now willing to pay. It's no coincidence that the day before Obama announced his latest push to crack down on big banks, his confidants David Axelrod and Valerie Jarrett met with Troubled Asset Relief Program (TARP) watchdog Elizabeth Warren, the intellectual mother of the consumer agency and the most prominent populist advocate for financial reform. "They made it very clear that Wall Street needs to stop acting like...

Author: /time Magazine | Title: Can Bashing the Banks Help Obama? | 1/28/2010 | See Source »

...critics who believed the Administration was reluctant to crack down on Wall Street, Volcker became the proof that wasn't in the pudding - the monetary version of the "most trusted name in news" who suddenly sounded like a Daily Kos blogger. If Obama really wanted to stop banks from getting too big to fail, why didn't he take Volcker's advice about how to stop them from getting too big? If Obama really wanted to stop Wall Street's excessive risk-taking, why didn't he take Volcker's advice to stop federally insured banks from gambling on their...

Author: /time Magazine | Title: Can Bashing the Banks Help Obama? | 1/28/2010 | See Source »

President Obama's new proposals to crack down on Wall Street - first the new tax on big banks last week, then Thursday's new restrictions on big banks - signal a somewhat new approach to financial reform. But they also signal a very new approach to politics and governing: more populist, more confrontational, less deferential to Congress, less eager for common ground. His uncharacteristically blunt message to financial giants and their political defenders said it all: "If these folks want a fight, it's a fight I'm ready to have...

Author: /time Magazine | Title: Can Obama Profit from a Wall Street Crackdown? | 1/22/2010 | See Source »

...contain any studies linking agranulocytosis with cocaine. However, in April of that same year, a New Mexico lab had identified a small number of unexplained cases of the disorder, also in people who had snorted, injected or smoked cocaine. Later, in 2009, a few cocaine addicts in San Francisco - crack smokers, mostly - began displaying even stranger symptoms, like dead, darkened skin. "It looked like people were getting burns all over their body," says Dr. Jonathan Graf, a rheumatologist at the University of California, San Francisco. "[Their skin was] black, as if you had taken a cigarette butt...

Author: /time Magazine | Title: A Common Cut in Cocaine May Prove Deadly | 1/20/2010 | See Source »

Elizabeth insisted that we recover her scant possessions: a handful of clothes and a Bible. Jude had convinced her that he would perform witchcraft on those items, to track and punish her if she again attempted escape. We drove to Jude's fortified crack den five minutes away. Lombard and I followed Elizabeth into the darkness behind the compound. We were joined by Shadrack, a kung-fu-trained church volunteer who worked as a financial adviser by day. Elizabeth tapped a secret knock, and after Jude ushered her in, Shadrack wedged his foot in the door. We pushed into...

Author: /time Magazine | Title: South Africa's New Slave Trade and the Campaign to Stop It | 1/18/2010 | See Source »

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