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Financial regulation is usually born of financial disaster. The Panic of 1907--during which several big New York City banks actually did fail--led to the creation of the Federal Reserve. The Great Depression, unleashed by a market crash and countless bank runs, gave us the Securities and Exchange Commission, the Federal Deposit Insurance Corporation, and the Glass-Steagall Act separating banks from Wall Street. Now we're up to our elbows in another mess, albeit one that has yet to acquire a name for the ages. (Credit crunch? Subprime meltdown? Give me a break!) And so, as foreclosure follows...

Author: /time Magazine | Title: Holding Back the Flood | 4/3/2008 | See Source »

...Bowie-imitation remain. But Bejar also does some other, more unexpected emulations, which pay off handsomely.“Dark Leaves Form a Thread,” the most immediately catchy song on the album, sounds like a ragged collaboration of Guided By Voices and New Order. The crashing drums and singing guitar build until Bejar shouts the triumphant title line, then the synths kick in and the tune floats gloriously thereafter. His declarations are typically bizarre (“So, should you still want me / You can find me down at the café / A little bit too busy...

Author: By Jessica R. Henderson, CONTRIBUTING WRITER | Title: Destroyer | 4/3/2008 | See Source »

...ascertain the identities of the British victims and survivors, the island's volcano erupted, sparking a riotous evacuation scenario in which frantic locals fought with shell-shocked British citizens for spots on the rescue boat. Sandwiched between the two events was a rotating cast of corrupt customs officials, traumatized crash victims, a blood-lusty press corps, unidentified bodies showing up in the morgue, ill-equipped local doctors with a penchant for amputation, grieving family members and looters...

Author: /time Magazine | Title: Disaster in a Tourist Mecca. Actors Wanted | 3/27/2008 | See Source »

...role-play on Ometepe Island was aided by a group of two dozen local British expats and Nicaraguan thespians who acted the parts of crash survivors, doctors and local government officials. The actors, empowered by the omnipotence of playing multiple characters throughout the week, were relentless on the British trainees, first shaking them down for bribes as customs agents and then later grilling them as journalists on issues of morality and corruption...

Author: /time Magazine | Title: Disaster in a Tourist Mecca. Actors Wanted | 3/27/2008 | See Source »

...motive for participating in the hLost fantasy, spurred by the TV series also set in a tropical island crash scenario. All the ingredients seemed to be in place for my fantasy to take shape: a picturesque volcanic island shrouded in mystery; a disastrous crash scenario; and a group of mostly young and attractive actors to play the roles of the other survivors, whom I was determined to lead on a polar bear hunt. GroundTruth was even nice enough to humor my daydream by writing me into the script as a ferry survivor who suffered post-traumatic stress and confused...

Author: /time Magazine | Title: Disaster in a Tourist Mecca. Actors Wanted | 3/27/2008 | See Source »

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