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...bank stress tests are considered one of the key components of Treasury Secretary Tim Geithner and President Barack Obama's plan to fix the financial system. They are designed to determine which banks would fail and which would survive if the economy worsens, as some economists expect. But when they were announced in mid-February it was not clear what the government would do with the information collected. Would it shut down a troubled bank...

Author: /time Magazine | Title: Stress-Test Results: Most Banks Likely to Pass | 4/20/2009 | See Source »

...Cross philanthropic relief scheme, by which the rich countries come to the rescue of the poor," Keynes declared. Rather, it should be a "highly necessary mechanism, which is at least as useful to the creditor as to the debtor." Rediscovering that sense of equal exchange will be key to the IMF's rebirth...

Author: /time Magazine | Title: International Monetary Fund 2.0 | 4/20/2009 | See Source »

...working the case pro bono with a handful of his students, has seized on the case as an opportunity to campaign for openness and access, both on the Internet and in the courtroom. In a representative effort to increase transparency, the Tenenbaum team motioned in December to broadcast a key courtroom hearing on the Internet. “Every trial should be Web-cast so long as the judge deems it appropriate and beneficial for all parties involved,” said Tenenbaum. “This decision will invariably have far-reaching consequence once it is resolved...

Author: By Marc G. Steinberg and Helen X. Yang, CRIMSON STAFF WRITERS | Title: Nesson Webcast Motion Denied | 4/20/2009 | See Source »

...sometimes graphic detail, the memos issued by the department's Office of Legal Counsel (OLC) reveal how the key conditions laid-down by the Administration were not always adhered to. Those guidelines were that the techniques were supposed to mimic the mock-torture of service personnel in an U.S. Army training program, they were to be used as a "controlled acute episode," and they were not to be used "with substantial repetition." (See pictures from inside Guantanamo Bay's detention facilities...

Author: /time Magazine | Title: How Waterboarding Got Out of Control | 4/20/2009 | See Source »

...Still, saving is the real key. Zimmerman has seven children, between the ages of 2 and 19. At a grocery auction in early April, she bought hot dogs, frozen pizzas and an Easter ham, among other items. Zimmerman figures all the stuff she bought would have cost $300 in the grocery store. She paid $100. "The more we save on food, the more we have for all the other bills each month," Zimmerman says. "Our cash flow can stretch out further. These auctions have just been a blessing...

Author: /time Magazine | Title: Canned Ham, Going Once, Twice: A Rise in Grocery Auctions | 4/19/2009 | See Source »

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