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...These things can happen. What is important is how they are dealt with when they do. There was a serious bank failure in the U.K. when Johnson Matthey Bankers collapsed in 1984, while I was Chancellor of the Exchequer. After a few days of abortive attempts to find a genuine private-sector rescue, I authorized the Bank of England to take over JMB, close the business, and sort out the mess, which it duly did. Northern Rock is a larger and more complex case, but the principles are the same. Instead, Brown and his Chancellor, Alistair Darling, spent five months...

Author: /time Magazine | Title: Failure After Failure | 2/21/2008 | See Source »

...beneath the spreading pecan trees of the Scholz Garten in Austin, Texas. Of all the beer joints in all the world, this venerable watering hole near the state capitol may come closest to the heart of Texas' Democratic Party. Liberals have been hatching plans here since Lyndon Johnson was a big-eared kid, and for a few months in 1972, it was the venue of choice for the young organizers of George McGovern's quixotic Texas presidential campaign - including Hillary Rodham and her future husband Bill Clinton. But on the night of Feb. 19, the place was a hive...

Author: /time Magazine | Title: A Fight for the Texas Democrats | 2/21/2008 | See Source »

...Harvard Kennedy School announced yesterday that Liberian President Ellen Johnson-Sirleaf, the first elected female head of state in Africa, will deliver the school’s graduation speech on June 4. Johnson-Sirleaf is a 1971 graduate of the school’s Mason Fellows Program, a mid-career masters in public administration. She has served as Liberian Finance Minister and held high-level positions at Citibank, the World Bank, and the United Nations Development Programme. Kennedy School Dean David T. Ellwood ’75, who extended the formal offer, said doing so was an easy decision...

Author: By Mark D. Hoadley, CONTRIBUTING WRITER | Title: Liberian President to Speak | 2/20/2008 | See Source »

...look pensive, but instead he simply looks ridiculous. Despite the cover, the album starts off pleasantly enough with “Roll On Oblivion.” The song features Collett’s nasal voice accompanied by guitar, drums, and maracas. It has a vibe that recalls Jack Johnson and leaves the listener excited to hear more. It seems like a good start to a good thing, but the next song, “Sorry Lori,” sounds strikingly similar. In fact, the whole first half of the album is replete with tracks that can scarcely...

Author: By Edward F. Coleman, CONTRIBUTING WRITER | Title: Jason Collett | 2/15/2008 | See Source »

...really just a tweaked version of the world depicted in the Jacksons’ “Scream” video, I’m not sure I want any part of it. After all, look how the Jacksons turned out. —David R. Johnson...

Author: By David R. Johnson, CONTRIBUTING WRITER | Title: POPSCREEN: Lil Mama ft. Chris Brown and T-Pain | 2/15/2008 | See Source »

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