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...House of Representatives subcommittee that oversees Fannie and Freddie, backs a plan that would break up the firms into as many as 15 smaller companies. As with public utilities, he thinks the government could regulate what these firms could charge and how much they could make. That would limit the risk-taking and excess use of leverage that caused the two firms to collapse. "I think it would be bad for the mortgage market to get rid of them completely," said Kanjorski, who also spoke at the conference on Friday morning. "But if they were smaller, perhaps next time...

Author: /time Magazine | Title: The Future of Fannie and Freddie: Chief Says Government Ownership Is Bad | 6/19/2009 | See Source »

Obama announced last month that he would personally pick the cybersecurity czar, who would report to the National Security Council and the National Economic Council. The cybersecurity community has for weeks been speculating about who will get the job. Many experts agree the President should not limit his search to tech gurus. "You don't need a doctor running health care, and you don't need a technologist running cybersecurity," says retired Major General Dale Meyerrose, of the consulting firm Harris Corp., who until recently was chief information officer for the Director of National Intelligence...

Author: /time Magazine | Title: A Favorite Emerges in Obama's Cyberczar Search | 6/19/2009 | See Source »

...District Court Judge Jed Rakoff, who is hearing the case, has said he wants to limit the case to the facts surrounding the relationship between Starr and AIG. Rakoff says he will not allow jurors to hear testimony about the accounting scandal that led to Greenberg's AIG exit or anything related to the insurance company's recent financial troubles, which resulted in a huge government bailout. Excluding the circumstances of Greenberg's exit may make it hard for AIG to prove that he ended Starr's AIG compensation plan because he was angry he had lost...

Author: /time Magazine | Title: Greenberg on the Stand: Is the Ex–AIG Chief Lying? | 6/17/2009 | See Source »

Many of the 96 rooms and suites have their own balconies, and the hotel also lists "windows that open" as a delightful nostalgic feature. (Given Shanghai's notorious levels of air pollution, you might want to limit usage of these charming aspects of your room.) But while the accommodation may look like a set designer's dream of the Bund, you'll find all the modern bells and whistles among the thick carpets, opulent upholstery and somber panelling, including Internet-protocol phones and iPod-docking stations...

Author: /time Magazine | Title: Langham Yangtze Boutique: Scrubbing Up Nicely | 6/17/2009 | See Source »

...separatists in its restive Xinjiang province, whose Muslim Uighurs share ethnic ties with Central Asia's Turkic populations. The SCO also declared in 2005 that there must be a timeline for withdrawing all U.S. military bases in Central Asia, a clear sign of Beijing and Moscow's intent to limit U.S. influence. The organization convened most recently this week in Yekaterinburg, Russia, where China proffered a $10 billion soft loan to tithe over the region's ailing economies and all spoke of enhanced political and economic cooperation. "Russia and China are both interested in maintaining the status quo," says Sean...

Author: /time Magazine | Title: Could Central Asia Be the Next Flashpoint? | 6/15/2009 | See Source »

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