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Madoff was supposed to come clean with his list of assets last week - it certainly should add up to more than $850 million - but so far there has been nary a public peep of the list. When, during the hearing, Representative Gary Ackerman, a New York Democrat, asked David Kotz...

Author: /time Magazine | Title: Where Has Bernie Madoff Buried His Loot? | 1/7/2009 | See Source »

Japan's exports declined 14.5% in November, the largest monthly drop since the country started compiling such data in 1975. Toyota recently warned that in its coming fiscal year it would suffer its first annual operating loss in the company's 70 years. The carmaker also plans to suspend production...

Author: /time Magazine | Title: Why the Yen Is Killing Japan Inc. | 1/7/2009 | See Source »

The yen's value has hovered at around 90 to the dollar for the past two weeks. But currency experts predict it could climb to 85 over the next few months - a level that could trigger intervention by the Ministry of Finance and the Bank of Japan, which would buy...

Author: /time Magazine | Title: Why the Yen Is Killing Japan Inc. | 1/7/2009 | See Source »

Well, we're not going to make the same mistakes. We're not going to let the banking system collapse; nor is anyone going to impale their economy on a fixed exchange rate; nor are we going to raise taxes in the middle of the depression. And we do have...

Author: /time Magazine | Title: Q&A: Lessons from the Great Depression | 1/6/2009 | See Source »

Guests were urged to visit an exhibition on the history of U.S.-Iraq relations in the next building over, where framed photos and copies of cultural and diplomatic agreements between the two countries document a rosy exchange from the 1930s to 2008. The more awkward moments in U.S.-Iraq history...

Author: /time Magazine | Title: Opening Day for Enormous New US Embassy in Iraq | 1/5/2009 | See Source »

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