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Scorsese is just one of many top directors who have found release in reality. In World War II, virtually all of Hollywood was mobilized to churn out propaganda films, and directors such as John Ford, Frank Capra, John Huston, William Wyler and George Stevens (all, eventually, Academy Award winners) enlisted in the armed forces and made tough, smart, often inspiring films of fighting men. More recent directors, like Jonathan Demme, Spike Lee and Michael Apted, have alternated studio movies and important nonfiction projects. For a decade after Titanic, James Cameron gave up Hollywood to make deep-sea documentaries...

Author: /time Magazine | Title: Scorsese's Moonlighting Gig | 4/3/2008 | See Source »

...arranged sale of about-to-fail Bear Stearns in mid-March and its subsequent decision to extend credit to other investment banks over which it has no regulatory say have been major prods to discussion. Both House Financial Services Committee chairman Barney Frank and Treasury Secretary Hank Paulson have since suggested that the Fed be given power to snoop around such institutions in search of market-endangering risks. Frank and presidential candidate Barack Obama have also talked of replacing the hodgepodge of federal and state regulatory agencies with a simpler and less loophole-ridden structure--and on March 31, Paulson...

Author: /time Magazine | Title: Holding Back the Flood | 4/3/2008 | See Source »

...Just before the Easter break in mid-March, Barney Frank, head of the House financial services committee, announced a series of initiatives to restructure financial regulation, create a new financial services uber-regulator and stiffen restrictions on Wall Street's complex financial tools for issuing credit and raising capital. His proposals had strong backing in the Democratic caucus, according to Brendan Daly, spokesman for House Speaker Nancy Pelosi. What's more, in what Democrats say is a sign of the changing environment in the wake of the Bear Stearns collapse, the Senate this week will take up a new housing...

Author: /time Magazine | Title: The Politics of Paulson's Proposal | 3/31/2008 | See Source »

...plan has received a relatively positive response from Democrats in Congress. "This is a good effort," said Steve Adamske, Frank's spokesman. "We have some disagreements, but they are moving in a direction that we think is positive." Daly, Pelosi's spokesman, said her office has concluded that Paulson's plan is "probably a decent first step, but there's just a lot of devils in the details." In short, the Treasury plan is seen as an opening bid in negotiations with Congress over just how far the new regulatory power will extend. And by showing at least an appearance...

Author: /time Magazine | Title: The Politics of Paulson's Proposal | 3/31/2008 | See Source »

Baseball is the only thing I ever wanted to do. When I was 16 years old, my brother Frank said, "You'd better become a catcher, because you're too big and fat to do anything else." Well, I took his advice. It was a quick way to get to the big leagues, and I've never regretted...

Author: /time Magazine | Title: 10 Questions for Joe Torre | 3/27/2008 | See Source »

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