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...dark cloud over regional banks is bad news for the FDIC, which provides deposit insurance, now to the level of $250,000 per account, at banks across the nation. At the end of last year, the FDIC had only $19 billion left to cover future failures. That's the lowest the FDIC's insurance fund has been in more than 15 years. As a result, on Friday the FDIC decided to raise the fee it charges large banks for deposit insurance. Also, President Obama recently agreed to allow the FDIC to borrow as much as $100 billion, up from...

Author: /time Magazine | Title: Financial Woes Spread to Smaller Banks | 5/22/2009 | See Source »

...Stephan Elliott's uneven but charming adaptation of the Noel Coward play, is going to do nothing to dissuade the public of her extreme good fortune in the looks department. Striding around in wide-legged trousers or smiling from under some exquisite little cloche, she is dazzling on the level that makes you think perhaps that whole business with Helen of Troy wasn't so far-fetched. (See TIME's coverage of the 62nd Cannes Film Festival...

Author: /time Magazine | Title: Easy Virtue: Jessica Biel Shakes Up the Brits | 5/21/2009 | See Source »

...plans to auction off hundreds of billions of dollars in Treasuries between now and the end of the year. The level of interest that will be paid on this paper will be a litmus test of the market's appetite for debt in the country that has the largest GDP in the world but is well on its way to owing a record sum to its creditors...

Author: /time Magazine | Title: U.K. Debt Moves Sovereign Borrowing Issue Closer To U.S. | 5/21/2009 | See Source »

...myself in those girls, and the fact that we cut across socio-economic backgrounds, that we invited girls from public schools, from parochial schools, kids from private schools, and that they're all sitting around the table as equals in this place, where they all felt some level of intimidation, right, so the playing field was relatively equal, it was a beautiful night...

Author: /time Magazine | Title: Interview with the First Lady | 5/21/2009 | See Source »

...what's that about? It's just one place you can go where you're completely ... where you feel some level of freedom and an ability to breathe. I think every single First Lady felt that that was an important resource, an important opportunity, an important thing for the health of the family. And some found it later in their terms than others, because you get so busy. I mean, even ... you know, we don't use it as much primarily because kids have their lives here...

Author: /time Magazine | Title: Interview with the First Lady | 5/21/2009 | See Source »

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