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...bank stress tests are considered one of the key components of Treasury Secretary Tim Geithner and President Barack Obama's plan to fix the financial system. They are designed to determine which banks would fail and which would survive if the economy worsens, as some economists expect. But when they were announced in mid-February it was not clear what the government would do with the information collected. Would it shut down a troubled bank...

Author: /time Magazine | Title: Stress-Test Results: Most Banks Likely to Pass | 4/20/2009 | See Source »

...mean that the argument is entirely flawed. Pandit, Thain and Willumstad did not do any better than their predecessors. As a matter of fact, they probably did much worse. They were given the specific tasks of ferreting out problems in the companies which they were picked to operate and fix them. Each one expressed optimism about accomplishing their goals only to face the need for government intervention to prevent collapse. Not one of the three simply acknowledged that his company was too badly broken to be fixed by its own devices...

Author: /time Magazine | Title: In Favor of Not Firing Bank CEOs | 4/20/2009 | See Source »

...tempting to say that no executive, no matter how accomplished, can fix the nation's largest banks. They can only be fixed when the credit markets themselves are repaired. Antagonists to that way of thinking would refer to Jamie Dimon of JPMorgan (JPM) who they claim can fix anything in the financial world. That point of view fails to admit that he did not break his bank in the first place...

Author: /time Magazine | Title: In Favor of Not Firing Bank CEOs | 4/20/2009 | See Source »

...magazine-corruption film Shattered Glass and the CIA exposé Breach. When a trio of top names is on a script, you can guess that each worked consecutively on the material, trying to slim it down or punch it up; and that each was employed to fix the "improvements" the previous man had made. It's been reported that Brad Pitt had been signed to play Cal, but departed the project after difficulties with the script. Pitt was right: none of the writers had solved the adaptation...

Author: /time Magazine | Title: State of Play: Better on the Small Screen | 4/17/2009 | See Source »

...Exploding demand for cocaine within the European Union is now just as much a relevant factor for violence in Mexico (and Colombia) as U.S. consumption. The situation in Mexico is a pattern echoed on all corners of the map: Temazepam (the British’s number-one prescription fix) migrates from Eastern Europe to the United Kingdom, opium from Southeast Asia to India and China, and heroin flows from Afghanistan to everywhere...

Author: By Raúl A. Carrillo | Title: More Than Secondhand Smoke | 4/16/2009 | See Source »

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