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Switzerland - the land of chocolate, watches and neutrality - isn't known for flexing its muscles in a heated standoff with another country. But now it finds itself pitted against the U.S. in a David and Goliath-style imbroglio that could damage diplomatic and economic relations between the two for years to come. On one side, the U.S. Department of Justice is accusing Swiss banking giant UBS of helping wealthy Americans hide billions of dollars from the tax man and insisting that the bank reveal their identities. On the other, the Swiss government is threatening to step in to protect...

Author: /time Magazine | Title: U.S. vs. UBS: A Fight Over Secret Swiss Bank Accounts | 7/15/2009 | See Source »

...wanting a big house on a big plot of land 100 miles from a city really so evil? There's nothing evil about wanting a big house. I think we all harbor that kind of instinct. But it's a desire that will be indulged by fewer of us in the future. The deterioration of the exurbs will be a gradual process - one that takes decades - but it will happen. Housing values in these places will decline and it will certainly affect people. But it won't be any different than, say, the kinds of erasures of equity...

Author: /time Magazine | Title: How the Coming Rise in Gas Prices Will Change the World | 7/15/2009 | See Source »

...advisers who wrote the paper, Christina Romer and Jared Bernstein, went on to land key jobs in the Obama Administration. Romer is the head of Obama's Council of Economic Advisers, and Bernstein is the chief economist and economic-policy adviser to Vice President Joe Biden. And the stimulus bill that both economists championed became law in mid-February. What has not come to pass, however, is the boom in job creation that Romer and Bernstein predicted. A little over a month ago, the Administration said the stimulus bill had created or saved 150,000 jobs. That...

Author: /time Magazine | Title: Obama's Stimulus Plan: Failing by Its Own Measure | 7/14/2009 | See Source »

...CSAT holds bearing on people’s well-being 20 years after they take it. If students score highly enough to get into a “SKY” university—a Seoul National University, Korea University or Yonsei University—they land on the path towards an enviable job, salary, and social class...

Author: By Anita J Joseph | Title: Testing Up | 7/14/2009 | See Source »

...Born in 1956 in Mobile, Ala., Benjamin was raised by her divorced mother in the nearby town of Daphne. While she was still young, her family came upon hard times and had to sell the land they owned. In order to feed themselves, they would make frequent trips to the Gulf of Mexico to catch crabs, fish and shrimp...

Author: /time Magazine | Title: Regina Benjamin: Obama's Surgeon General Pick | 7/14/2009 | See Source »

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