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...wrong about specific things, and macroeconomists are wrong about things in general," Bauman quips during his set. "Particularly having successfully predicted nine out of the last five recessions." It's funnier if you're familiar with the inherent tense dichotomy between micro- and macroeconomic schools of thought. With this crowd, it kills...

Author: /time Magazine | Title: Didja Hear the One About the Funny Economist? | 1/15/2009 | See Source »

...declined my new friends offer, he wondered instead if I might not like to buy some hash. I’d been offered hash in Delhi and Kolkata too, but the frequency of offers in Puri, (including from one especially loony rickshaw-wala), when in fact the sparse Western crowd seemed a bit tame, made me wonder if “high season” had permanently departed the town (or at least its backpacker quarter, the Indian holiday business seemed to be thriving).In Kolkata the scams had carried their own character—providing a bottle of water...

Author: By Max J Kornblith, CRIMSON STAFF WRITER | Title: In a Puri State of Mind | 1/15/2009 | See Source »

...Broke the stolen base record on May 1, 1991. In a speech to the crowd, Henderson declared himself "the greatest of all-time," a comment that further solidified his reputation for arrogance...

Author: /time Magazine | Title: Rickey Henderson | 1/13/2009 | See Source »

...Bernie Madoff come to have two classes of investors - the first-class crowd enjoying SIPC support, and the rest of us in coach? The Securities and Exchange Commission (SEC) encouraged the growth of unlicensed, unregistered feeder funds when it liberalized investing rules in the 1996 National Securities Markets Improvement Act, now part of the Investment Company Act of 1940. As a result, anyone managing pooled investments held by fewer than 100 people, or managing monies for an unlimited number of "qualified purchasers" (investors with more than $5 million or institutions with more than $25 million), need not worry about...

Author: /time Magazine | Title: Bernie Madoff's Victims: Why Some Have No Recourse | 1/12/2009 | See Source »

...four-star out in one of the regional combatant commands when Secretary Rumsfeld and his crowd came in. When he wanted to take his first look at key questions, he'd call on a bunch of old, retired officers who he happened to know in his former life to study things that were the clear responsibility of the uniformed services, and it was just a disaster." - On how not to hand off military command from one Administration to the next (September 19, 2008 interview with Time...

Author: /time Magazine | Title: Dennis Blair | 1/12/2009 | See Source »

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