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...markets have appeared to be on the verge of something very scary. It happened first and most jarringly in February, when subprime-mortgage woes made headlines in the U.S. and a market crashlet in Shanghai sent global stocks into a swoon. Lately the scares have been smaller but more frequent: a sharp rise in interest rates in May, runs on a couple of hedge funds in June, a sudden drop in demand for risky mortgage and corporate debt in July...

Author: /time Magazine | Title: The End of Easy Money | 7/19/2007 | See Source »

...court's ruling said that "such frequent use" of vaffanculo and other merely vulgar expressions has created a kind of "inflation" where they have lost their original obscene and/or overtly hostile significance, even while "impoverishing language and manners." The U.S. Supreme Court has ruled that "obscene" speech does not enjoy First Amendment protection, and may in certain cases be criminal to express. Still, at least one of the nine U.S. justices, Sicilian-American Antonin Scalia, has some personal experience to work from. Last year when a reporter asked what he had to say to his critics, the brilliant judge responded...

Author: /time Magazine | Title: Va Fangul!... And Have a Nice Day | 7/17/2007 | See Source »

...Brendan J. Nyhan, a political science graduate student at Duke University and frequent blogger, points out that while Mankiw said he was “skeptical” of the claim that tax cuts could pay for themselves during his Senate confirmation hearing, Mankiw also denied that the administration had used “self-financing” arguments...

Author: By Nathan C. Strauss, CRIMSON STAFF WRITER | Title: Mankiw Defends Tax Cut Stance, Faces Online Flak | 7/13/2007 | See Source »

...smelled increasingly of sulfur. "It's the job of a press secretary to be a lightning conductor," says Sir Christopher Meyer, who headed Downing Street press operations under Major and later served as Britain's ambassador to Washington from 1997-2003, a time when Campbell and his boss were frequent White House visitors. Campbell is a kind of Zelig, without the character's self-effacement, present at the key events of the past decade, especially its international convulsions. That's why his diaries will be pored over on both sides of the Atlantic. His friendship with President Clinton was tested...

Author: /time Magazine | Title: Blair's Barnum | 7/10/2007 | See Source »

...Opponents and defense lawyers have long decried those laws, and Bruguiere's frequent use of them brazen infringement of civil liberties. Those complaints seem almost petty in a post-9/11 world. "The U.S., U.K., and other nations now all have anti-terrorism laws that go far beyond ours," notes independent terrorism expert Roland Jacquard. "Bruguiere's use of them also looks very responsible given what we've seen elsewhere - Guantanamo just for starters...

Author: /time Magazine | Title: France Loses its One-Man War on Terror | 7/6/2007 | See Source »

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