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...familiar with trading practices and simply accepted Madoff's explanation that he used his "gut feel" to time the market on the basis of "his observations of the trading room." According to the report, examiners stated that "there was no training" and that "this was a trial by fire kind of job." It also said that examination team was "composed entirely of attorneys, who ... 'did not have much experience in equity and options trading' but 'rather, their experience was in general litigation.' " (See pictures of a Madoff family album...

Author: /time Magazine | Title: SEC Internal Review Cites Multiple Failures on Madoff | 9/2/2009 | See Source »

Berns and his colleagues recruited 91 kids ages 12 to 18 and asked them to fill out a questionnaire about their tendency to engage in behaviors such as driving without a license, having unprotected sex and using drugs. Then they had the kids undergo a relatively new kind of brain scan called diffusion tensor imaging, a type of magnetic resonance imaging that is used to look at dense tissues like white matter. After analyzing the scans, the authors found a strong correlation between how risky the students described their behavior to be and how sophisticated their white matter...

Author: /time Magazine | Title: The Teen Brain: The More Mature, the More Reckless | 9/2/2009 | See Source »

...patients, and the immune system sees the pancreatic beta cells as foreign. Melton's team is currently working to generate thymus cells from diabetic patients in the same way the team created the beta cells, in order to put all the players together in a lab dish, in a kind of biological diorama of the disease. (See more from TIME on diabetes...

Author: /time Magazine | Title: A Stem-Cell Discovery Could Help Diabetics | 9/2/2009 | See Source »

...climatologists have a better and better picture of what will happen to the entire climate the further out they look, the same predictions get fuzzy over the near term, or regionally instead of globally. That can be remedied in part by spending more on climate science and building the kind of models that can drill down below the global level to the regional or even the municipal, giving the governor of Florida or the mayor of New York City enough data, for example, to prepare locally for global warming. "Knowing what will happen at the end of the century...

Author: /time Magazine | Title: In Geneva, Designing a Global Climate-Alert System | 9/2/2009 | See Source »

...German politics is no longer dominated by the two big parties - the Christian Democrats and the Social Democrats - with the kind of stable two-party coalitions that were typical of West Germany. The political game is much more open, with at least five parties vying for power and reflecting the much broader spectrum of political opinion in the population. This seemingly unstable coalition system is the new normal. "The trend for the future is a stabilization of instability," says Ulrich von Alemann, a political scientist at the University of Düsseldorf. (Read "Busting Out: German Pol Plays the Cleavage...

Author: /time Magazine | Title: Small Parties Gain in German State Votes | 9/1/2009 | See Source »

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