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...1980s were a monument to Wall Street excess, witnessing some of the most notorious insider-trading prosecutions in history. Corporate raider Ivan Boesky - said to be an inspiration for the fictional Gordon ("Greed ... is good") Gekko, villain of the Oliver Stone film Wall Street - was sentenced to 3½ years in prison and fined $100 million in 1986 for insider trading. Financier Michael Milken, the "junk-bond king" who famously earned $550 million in 1987, avoided prosecution on similar charges by pleading guilty to other criminal counts. But the largest insider-trading conviction came two decades later, in 2007, when...

Author: /time Magazine | Title: Insider Trading | 11/9/2009 | See Source »

Modern media did not invent greed, eccentricity or lust for attention. What they did was monetize them. There have long been odd families and obscure men pursuing bizarre theories and cobbling together flying machines in their backyards. But only in the reality-TV era has unstable behavior become a valid career choice. Only now are questionable parenting decisions the stuff of a lucrative family business. Say whatever you want about Jon and Kate Gosselin, their divorce proceedings entail numbers with a lot more zeroes than your typical young Pennsylvania family encounters...

Author: /time Magazine | Title: Balloon Boy's Lesson: The New American Dream | 11/2/2009 | See Source »

...also think we have to change our lifestyles. It's true - I think it was a Gandhi quote - that the world has the resources to meet the needs of humanity, not the greed of humanity. I find it to be an amazing statistic that, per capita, each of us [Americans] uses about 35% to 40% more oil a day than the average European, and almost 50% more than the average person in Japan. We have an appetite that is absolutely breathtaking. That's something we have to be aware...

Author: /time Magazine | Title: The Real Impact of America's Oil Crisis | 10/13/2009 | See Source »

...free enterprise, mutual prosperity and open societies. It was that ideal that brought my Holocaust-survivor grandparents through Ellis Island in 1949 in the hopes of rebuilding their lives and finding better opportunities for their 3-year-old daughter - my mother. These ideals have too often been trampled by greed or myopic self-interest. But the positive impact they have had on the world cannot be denied. Asia has risen to new heights of wealth and power partly because of American policy, consumers and corporate practices. As Singapore's patriarch Lee Kuan Yew once told me, "Without the United States...

Author: /time Magazine | Title: American Lament | 10/12/2009 | See Source »

...managed by the United States government, and only one out of every 10 mortgages in this country is not financed by the government. Simply put, Republicans are weary of the government’s exponential increase in business management and catering to private life. I affirm that individual greed and lack of government regulation, to an extent, brought us to this economic predicament. But how much longer and further will the government expand? Republicans are reminiscent for the days of a bygone era, an era that supported the self-made man and competition. The idea of the economic frontier...

Author: By Kevin Sprague | Title: A Defense of Republicans | 10/7/2009 | See Source »

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