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...derivative-driven innovations and massive leverage, Blankfein is the firm's chief advocate for taking risks but also its chief risk watchdog. He has a far different perspective from that of most of the previous Goldman bosses. In December 2006, Viniar led a meeting of senior Goldman executives to examine ongoing daily losses in the firm's mortgage portfolio. Goldman had already underwritten and sold billions of dollars' worth of mortgage-backed securities, much of it labeled investment grade by ratings agencies. It was, in fact, junk. But Goldman realized earlier than most that rot was setting in and famously...

Author: /time Magazine | Title: The Rage Over Goldman Sachs | 8/31/2009 | See Source »

...persuasion to bring along legislators from both parties behind his core principles—in this case, expanding health coverage for those in need. This pragmatism and legislative craftsmanship, coupled with his liberal convictions, made Kennedy unique in the Senate. His decades of public service were always purpose-driven, as he advocated on behalf of those most in need of health care, education, housing, and the basic elements of human dignity. To highlight this liberalism is not to politicize his legacy, but to pay tribute to his ideals...

Author: By Jonathan S. Gould | Title: Lessons from the Liberal Lion | 8/31/2009 | See Source »

...poverty law. “Obviously economic development is important to the community, but it’s a different mission than, say, helping someone stay in their home,” McArdle said.Dealy, the assistant dean, said that the decision to move the four clinics was also driven in part by a desire to enhance Law School curricula and strengthen the connection between clinical classroom work and fieldwork. McArdle also said that locating the clinics in Cambridge may be more convenient for clients as well, especially those coming from communities on the T’s Red Line...

Author: By Peter F. Zhu, CRIMSON STAFF WRITER | Title: HLS Clinics Face Cuts | 8/30/2009 | See Source »

...Maybe it's a recession-driven money saver, or maybe we just feel the need to get back in touch with what we eat, but Americans everywhere are discovering the pleasures of home-cured bacon. Culinary blogs are replete with homemade-bacon recipes, including how to make pancetta. Mario Batali's recipe for guanciale, cured pig cheek, has gone viral. Leading the piggy parade is food writer Michael Ruhlman, who has challenged his blog readers to make a BLT from scratch - including homegrown lettuce and tomatoes and homemade bread - shoot a picture, submit it and win a prize: his latest...

Author: /time Magazine | Title: Makin' Bacon: Foodies Are Going Hog Wild Over Pig | 8/28/2009 | See Source »

...that whatever is left of the organization is still busy preparing more of the attacks that have killed around 800 people over the years. Meanwhile, officials say that with the group now under unprecedented pressure, the only - usually young - people willing to enter ETA these days are almost all driven by an extremism that knows no fear of failure. (Read "New Basque Government: A Blow to Separatists...

Author: /time Magazine | Title: Basque Terror Group Weaker But Still a Threat | 8/27/2009 | See Source »

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