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...crisis - the $700 billion Troubled Asset Relief Program (TARP), the stock-market swoon, the credit crunch and the ongoing global recession - $165 million is small change. But the revelations of the AIG bonuses, like nothing else, seemed to finally tip the mounting public furor over corporate malpractice into a full-scale rebellion. Yet Geithner, embarrassed for discovering the bonuses so late, plans to dock AIG that much out of the next $30 billion in bailout funding when it is delivered - which amounts to a mere 0.1% of the total AIG has received. Assorted Senators, from New York Democrat Chuck Schumer...

Author: /time Magazine | Title: How AIG Became Too Big to Fail | 3/19/2009 | See Source »

...Bailing Out the Bailed Out Keeping the financial system fluid might explain why so many banks got paid in full, which strikes some as a scandal way bigger than the bonus payouts. Many experts wondered why AIG paid 100 cents on the dollar. Among the biggest beneficiaries of the AIG pass-through, at $12.9 billion, was Goldman Sachs, the investment-banking house that has been the single largest supplier of financial talent to the government. Critics have been quick to note - and not favorably - the almost uncanny influence of former Goldman executives. Initial phases of the rescue were orchestrated...

Author: /time Magazine | Title: How AIG Became Too Big to Fail | 3/19/2009 | See Source »

...Greater Twin Cities United Way in St. Paul, Minn., Sue Moyer manages 44,000 volunteers a year with the help of one full-time and one part-time employee. Losing either employee would be devastating, she says. So far, there is no indication of cuts to come at her group, which just closed out its 2008 fundraiser about even with the previous year's. But Randi Yoder, the organization's senior vice president of donor relations, is bracing for a funding shortfall in 2009 even as she anticipates that volunteer numbers will rise by as much as a third. That...

Author: /time Magazine | Title: Nonprofit Squeeze: Donations Down, Volunteers Up | 3/19/2009 | See Source »

...Full disclosure: Datamatch did have one glitch that night. She liked the Red Sox. Still, it was nice to finally meet a Sox fan who could be diplomatic towards my Yankees loyalty...

Author: By Rahul Prabhakar, CONTRIBUTING WRITER | Title: The Perfect Match | 3/18/2009 | See Source »

...like creature starring in online videos and lining Chinese store toy shelves is a mythical "grass-mud horse" - whose name in Chinese sounds just like a vulgar expression involving a sex act and, well, your mother. Bawdy as it may seem, an Internet children's song about the animal, full of lewd homophones, has emerged as a galvanizing protest against the Communist government's efforts to ban "subversive" material - political dissent, most importantly - from the web. Purportedly a harmless fantasy, the wink-wink, giggle-giggle creation is a virtual thumb in the eye of China's unblinking censors...

Author: /time Magazine | Title: Chinese Internet Censorship | 3/18/2009 | See Source »

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