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...agency has contained the costs of the credit crisis. Bank failures are not of the FDIC's making: the Federal Reserve failed to rein in mortgage-lending, while regulatory agencies like the Office of Thrift Supervision allowed banks to make loans without adequate capital. But the FDIC has the final say on when and how to close a bank, and some believe it has been waiting too long to act, adding to the cost of failures. Regulators labeled Chicago-based Corus Bank critically undercapitalized in March, but it took the FDIC until mid-September to shut it down--a closure...

Author: /time Magazine | Title: Spotlight: Bank Failures | 10/26/2009 | See Source »

...into law--it was also a masterstroke in political leverage. And no one loved Senate politics more than he. Snowe's yea earned her--a member of a weakened minority, from the lovely but not very influential state of Maine--a voice in the small group hashing out the final version of the bill. In the Senate, she is just one among 100. But on probably the biggest bill of the century, she's now one of a handful cutting the deal. When the Clinton Administration attempted to pass health-care reform, Finance was its graveyard. This time, the idea...

Author: /time Magazine | Title: The Moment | 10/26/2009 | See Source »

...misleading reading of the bill, that reform could lead to a painful spike in insurance premiums for ordinary Americans. The episode shattered the thin trust between the Administration and the insurance lobby and set the stage for an ugly and very public war over the shape of the final measure. "I feel completely misled," said the Senate aide who was on the call. "There are a couple of things you have to have in this town, and your good name is one of them...

Author: /time Magazine | Title: Health-Care Grudge Match! | 10/26/2009 | See Source »

...Crimson now looks forward to the Tail of the Charles Regatta on Nov. 21, its final competition before the grueling winter training session begins...

Author: By Loren Amor, CRIMSON STAFF WRITER | Title: Rookies Dominate Field at Princeton’s Carnegie Chase | 10/26/2009 | See Source »

...surprise visit to a weight-loss clinic in Italy between two matches, for example, and the fact that he used more than 70 different players in his squad over 13 matches (at a moment when most of his rivals in other countries are close to settling on the final 23 players they'll take to South Africa) had fans miffed and the press questioning his judgment in a manner unthinkable during his heyday...

Author: /time Magazine | Title: Argentina's Maradona: A Soccer God Turned Mortal | 10/23/2009 | See Source »

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