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Well, yeah, except that Goldman and JPMorgan played right along with many of the Wall Street practices that led to the crisis. They fought regulation - of derivatives, for instance - that might have prevented it. And their big profits can be traced not only to skill but also to the government's decision last fall to bail out the financial sector just as the troubles that toppled Lehman Brothers and WaMu and forced Bear Stearns, Merrill Lynch and Wachovia into shotgun marriages began to endanger Goldman and (to a lesser extent) JPMorgan. "No one should be confused about the extent...

Author: /time Magazine | Title: Too Much Profit at Goldman and Morgan? | 7/27/2009 | See Source »

...resisted. Are you worried about jeopardizing that relationship? I don't think they're so petty-minded. They're the people who encouraged us to defeat terrorism. We followed what [George W.] Bush said. We accomplished what he wanted: eliminate terrorism. They must give credit to us. We fought their war. We showed that you can defeat terrorism...

Author: /time Magazine | Title: Q&A with Sri Lanka's President Mahinda Rajapaksa | 7/27/2009 | See Source »

...difference in how the two men regarded the legacy of the Bush years. As a Cheney confidant puts it, the Vice President believed he and the President could claim the war on terrorism as his greatest legacy only if they defended at all costs the men and women who fought in the trenches. When it came to Libby, Bush felt he had done enough...

Author: /time Magazine | Title: Inside Bush and Cheney's Final Days | 7/24/2009 | See Source »

...March 6, 2007, of obstructing justice, perjury and lying to investigators. He was sentenced to 30 months in prison and a $250,000 fine, a precipitous fall for a man known as the Vice President's alter ego and formerly a prestigious lawyer at a premier Washington firm. He fought the verdict, his legal bills paid by a defense fund that raised $5 million, but a federal appeals court ruled on July 2, 2007, that Libby had to report to jail...

Author: /time Magazine | Title: Inside Bush and Cheney's Final Days | 7/24/2009 | See Source »

...Cheney fought some of these initiatives all the way, "taking it upon himself," as a top adviser put it, to make the hard-line national-security case to the President. Cheney didn't lose every fight, but he was no longer winning them all either. And his backup vanished. Pentagon official Paul Wolfowitz moved to the World Bank in early 2005. Libby was indicted in October of that year and left the government. John Bolton resigned his post as U.S. ambassador to the U.N. the same month Rumsfeld left the Pentagon in 2006. Cheney's allies no longer manned...

Author: /time Magazine | Title: Inside Bush and Cheney's Final Days | 7/24/2009 | See Source »

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