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...that kind of mass delusion? Shiller seems to have no interest in substituting his judgment, or the government's, for the market's. Instead, he sees information and innovation as the counter to group think. An active market in house-price futures and options--Shiller has recently helped launch such securities on the Chicago Mercantile Exchange--would let skeptical speculators prick housing bubbles, he argues. If banks wrote continuous-workout mortgages--in which the terms changed depending on house prices, unemployment and the like--homeowners might be less addicted to rising prices. If government subsidized financial advice for the nonrich...

Author: /time Magazine | Title: Crash Master | 9/4/2008 | See Source »

...Africa--and a frequent target of Nelson Mandela's African National Congress (ANC) guerrillas. In 1980 the ANC's military wing, the Umkhonto we Sizwe, blew up parts of Sasol's plants in Sasolburg and Secunda, both south of Johannesburg. In 1983, '84 and '85, the rebels returned to launch rocket attacks on the plants. (The rockets missed, but the attacks are commemorated to this day in an ANC song whose chorus goes, "Whoosh! Whoosh...

Author: /time Magazine | Title: Dirty Little Secret | 9/4/2008 | See Source »

...Hollywood, including Spider-Man producer Laura Ziskin, who has breast cancer. Says Couric, who lost her husband and sister to cancer: "It was clear to me and other people that this borders on the ridiculous. You ask yourself: What can be done?" SU2C has a scheduled Sept. 5 launch with an unprecedented three-network simulcast, hosted by Couric, Brian Williams and Charles Gibson. It features a roster of stars, including a performance by cancer survivor Melissa Etheridge and a film by Errol Morris (who produced Standard Operating Procedure, an acclaimed documentary about Abu Ghraib abuses). "I will make you laugh...

Author: /time Magazine | Title: He Won His Battle With Cancer | 9/4/2008 | See Source »

...carefully worded statement leaves Tata the option to change his mind if the protests subside. He has much less room to maneuver around the company's promise to launch the Nano by the end of this year. Tata has staked his reputation on successfully producing and selling the fabled world's cheapest car, which will sell for about $2,300 - a price low enough to turn India's millions of motorcycle and scooter drivers into car owners. "This is an iconic project," says Abdul Majeed, who follows the Indian auto industry as a partner at PriceWaterhouseCoopers in Chennai. "The whole...

Author: /time Magazine | Title: The People vs. the People's Car | 9/3/2008 | See Source »

Within moments of today's attack, police with sniffer dogs swarmed the hill in search of evidence that would lead to the killer's identity. Three men have been detained for questioning, but the shooters have not been found so far. Information minister Sherry Rehman announced the launch of an investigation, telling local television that " those who had designs, have failed." It is not clear yet if there was a breach in security - the roadside should have been checked out by a security detail long before the prime minister passed by. The grassy hill is topped by a neon sign...

Author: /time Magazine | Title: Pakistan's Growing Chain of Violence | 9/3/2008 | See Source »

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