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Vogue editor Anna Wintour, whom I vaguely knew as the lady who wears Prada and is remarkably similar to the Devil, has two bodyguards--that's how serious fashion is. I've interviewed a lot of celebrities, and you know who had bodyguards? Nobody. I walked up to one of the bodyguards and asked him if he could handle a client who needs bodyguarding a little more than Anna Wintour does. "I think so," he said. "I have." I did not know until right then that bodyguards are allowed to act embarrassed...

Author: /time Magazine | Title: Fashion Frills | 9/18/2008 | See Source »

...Halston "presentation" at the Museum of Modern Art, Time fashion editor Kate Betts introduced me to Veronica Webb, who is a former model. I knew this because a) I'd heard of Veronica Webb, and b) she was wearing a T shirt that said "iModel." I asked Webb if I was allowed to touch the models being presented. She said it was totally O.K. as long as I pretended I wanted to touch the fabric. Webb said someone told her that what a fabric feels like is more important than what your husband feels like, since you spend more time...

Author: /time Magazine | Title: Fashion Frills | 9/18/2008 | See Source »

...even before 2001 there was a widespread, bipartisan Washington consensus that financial markets knew best. And even when some in government suspected that they didn't, the territorial lines between regulatory agencies often stood in the way of doing anything about it. The Securities and Exchange Commission, well versed in investor protection but not so much in safety and soundness, remained as lead regulator of brokerage firms even as they evolved into giant investment banks whose failure could endanger the financial system. The Office of the Comptroller of the Currency battled state regulators over who had the right to impose...

Author: /time Magazine | Title: While the Regulators Fiddled ... | 9/17/2008 | See Source »

...investigation. Days later, it emerged that more than 1,000 babies were sick, many contracting kidney stones, after consuming melamine-tainted formula. At least two babies have died. On Sept. 13, China said that 19 people have been detained in the ensuing probe. Some critics, however, have suggested China knew about the link between the sick babies and malamine-laced formula months ago - well before the Summer Olympics in Beijing - but did not investigate until external pressure left them no choice...

Author: /time Magazine | Title: Melamine | 9/17/2008 | See Source »

...forces have been entering Pakistan for the last six years. But it was always very quietly, usually no more than a hundred yards in, and usually to meet a friendly tribal chieftain. Pakistan knew about these crossings, but it turned a blind eye because it was never splashed across the front page of the country's newspapers. This has all changed in the last month, as the Administration stepped up Predator missile attacks. And then, after the New York Times ran an article that U.S. forces were officially given the go-ahead to enter Pakistan without prior Pakistani permission, Pakistan...

Author: /time Magazine | Title: Washington Is Risking War with Pakistan | 9/17/2008 | See Source »

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