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...satellite observations are absolutely essential for providing the big picture. It was satellites that revealed in September 2007 a record minimum ice coverage in the region - the result of a massive summer melt. And it was satellites that showed in 2008 and 2009 the modest recovery of late-summer Arctic ice that suggested to some that the specter of a totally ice-free polar ocean might be somewhat less imminent than feared...

Author: /time Magazine | Title: Melting Arctic Ice: What Satellite Images Don't See | 1/28/2010 | See Source »

...lost this perspective. I needed to regain it. Yes, I would be behind my class and would graduate a year late. Yes, I would miss all my activities and friends. But after experiencing repeated depressive episodes and existential crises, I decided it was useless to wonder what I was doing with my life. I needed to decide what I was doing with my life...

Author: By Maya E. Shwayder | Title: A Separate Year | 1/28/2010 | See Source »

...socialite turned reality-TV star might seem like an odd target, but to Redford, who has been involved with the festival since its beginning, she's an example of what the festival has become. In his press conference, Redford said Sundance has been "sliding" of late, blaming "ambush marketers" for taking over storefronts to promote their swag and celebrities who just show up for the paparazzi attention. "It kind of engulfed what we did," he said. "You end up with parties and celebrities and Paris Hilton ... and that's not us. Sundance has nothing to do with any of that...

Author: /time Magazine | Title: Sundance Film Festival | 1/27/2010 | See Source »

...held by the House Committee on Oversight and Government Reform, were the payments that AIG made to banks that bought credit-default-swap (CDS) bond insurance from the firm. Members of the panel grilled Treasury Secretary Timothy Geithner, head of the Federal Reserve Bank of New York in late 2008, as to why he allowed AIG to pay the banks the starting value of the CDS contracts when the bonds had fallen significantly in price. Other mortgage-bond insurers at the time were able to strike deals to tear up similar contracts and pay reduced prices. Some called...

Author: /time Magazine | Title: Could the U.S. Have Saved Billions on AIG Rescue? | 1/27/2010 | See Source »

...Back in late 2008, though, even at the height of the financial crisis, BlackRock believed AIG could have struck deals with the big banks that would have saved the company money. At issue were the credit-default swaps - essentially bond insurance that would pay out if borrowers didn't - that AIG had sold to a number of large banks and financial firms. Lawyers say there would have been nothing legally wrong with AIG's negotiating to pay some banks less than others on the CDS insurance they had bought from AIG. In fact, since the CDS contracts insured different bonds...

Author: /time Magazine | Title: Could the U.S. Have Saved Billions on AIG Rescue? | 1/27/2010 | See Source »

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