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Less than two weeks ago, The Washington Post published an article announcing that AIG had paid millions of dollars in retention bonuses to executives of the company. Documents later turned over to the Connecticut Attorney General show that the actual figure was $218 million. To date, the government has loaned...

Author: /time Magazine | Title: Why the People Who Broke the Financial System Will Profit | 3/25/2009 | See Source »

If it's not the biggest scandal in American legal history, many are calling it at least the darkest day for the country's troubled juvenile-justice system. For more than four years earlier this decade, two senior county juvenile-court judges in northeastern Pennsylvania took kickbacks of $2.6 million...

Author: /time Magazine | Title: Getting the Juvenile-Justice System to Grow Up | 3/24/2009 | See Source »

Last July, the Securities and Exchange Commission (SEC) put out a report detailing how the major credit-ratings agencies abetted the subprime-mortgage meltdown. By wildly overestimating the quality of the dicey securities that Wall Street was churning out, the ratings firms helped investors load up on those securities - the...

Author: /time Magazine | Title: How to Fix the Credit-Ratings Agencies | 3/23/2009 | See Source »

Points of Interest. It doesn't do you much good to hoard all those Delta SkyMiles, when the only airline with a direct flight to your destination is American. So, check out Points.com's Global Points Exchange, where you can post an offer to trade your points and search for...

Author: /time Magazine | Title: Fast Track to Elite: Double Air and Rail Miles | 3/23/2009 | See Source »

According to a proxy statement Citi filed with the Securities and Exchange Commission, the company finalized its bonus plan on Jan. 14. Twelve days later an amendment barring such payments was inserted by the House of Representatives into the $787 billion fiscal stimulus bill, which went into effect on Feb...

Author: /time Magazine | Title: Citigroup Plans Big Bonuses Despite Rules Against Them | 3/20/2009 | See Source »

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