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...crisis may be exposing another, more insidious, flaw. As the industry has grown, it has become harder to tell good investment managers from lucky ones - and lucky ones from outright frauds. In a recent paper, Dean Foster, a professor at the University of Pennsylvania's Wharton School, and H. Peyton Young, a senior fellow in economics at the Brookings Institution, argued that the lack of industry regulation makes bad managers nearly impossible to detect. By making bets that have a relatively low probability of failing - say, 10% - an unskilled manager has a 90% chance of making good...

Author: /time Magazine | Title: Pruning Season | 11/13/2008 | See Source »

...emails to the various HoCos, Lewis advertised brewing as both a green project since it reuses beer bottles (that have been religiously sterilized) and as a way to return Stein Club to its original intent—to foster community building in the presence of tasty beer. Palfrey, Sifuentes, and Hiatt package it as a way to teach and encourage responsible drinking. Adams HoCo claims it saves them money. These reasons may be legitimate to varying degrees, but the true reason Smada should be celebrated is because it inspires house spirit in this post-randomization age of apathy. People piled...

Author: By Rebecca A. Cooper, CONTRIBUTING WRITER | Title: The New Spirit in Adams House | 11/13/2008 | See Source »

...just because it's so achingly predictable: the humble beginnings of the plucky, plain little waif from Nowheresville, the chance discovery, the lucky break, the pieces of a fabulously successful and lucrative career magically magnetizing together. (For a lengthier and smarter consideration of this topic see the late David Foster Wallace's "How Tracy Austin Broke My Heart," an extended review of Austin's Beyond Center Court: My Story collected in Wallace's Consider the Lobster.) And they have a funny mirrors-within-mirrors, mise-en-abyme effect: they pull back the smooth glossy surface of familiar images and show...

Author: /time Magazine | Title: And the Bond Played On | 11/12/2008 | See Source »

...child in 48-hour custody, and then they transfer the child to the Dept. of Health and Human Services. Then we look [to place them in] a relative's home first because it's someone that they already have a relationship with. If not, we go with a foster home. Most of the kids are in foster homes. Then it's a regular court process in juvenile court. The parents no longer have sole determination about what's going to happen to the child. They will be involved but now the judge will ultimately decide what happens to these kids...

Author: /time Magazine | Title: Nebraska's Abandoned-Kid Law | 11/12/2008 | See Source »

...concern is that conservatives will use those same tactics - statewide referendums aimed at overruling court decisions or rebuffing reluctant legislators - to restrict other rights. In Arkansas, for example, voters easily passed an initiative that did what state legislators had refused to do: ban adoptions and even foster-parent roles for unmarried couples, including gays. Now the state joins Utah, Florida and Mississippi as a place where gay couples cannot adopt. Trantalis and others are worried that even as the gay rights movement continues to win court victories, those very victories may prompt stronger and stronger backlashes, jeopardizing hard-won rights...

Author: /time Magazine | Title: Activists Rethink Their Gay-Marriage Tactics | 11/11/2008 | See Source »

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