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...case that the equity value of firms including Citigroup(C) and Bank of America (BAC) has dropped to nothing is compelling. Once the government said it would back losses of over $300 billion from the Citi balance sheet, it was a tacit way of saying that Citi was no longer independent. Its market cap is now down to $15 billion, and at $2.80 its stock is a day-trader's dream...

Author: /time Magazine | Title: For US Banks, The Glass Is 1% Full | 1/21/2009 | See Source »

...what will that fiction look like? Like fan fiction, it will be ravenously referential and intertextual in ways that will strain copyright law to the breaking point. Novels will get longer--electronic books aren't bound by physical constraints--and they'll be patchable and updatable, like software. We'll see more novels doled out episodically, on the model of TV series or, for that matter, the serial novels of the 19th century. We can expect a literary culture of pleasure and immediate gratification. Reading on a screen speeds you up: you don't linger on the language; you just...

Author: /time Magazine | Title: Books Gone Wild: The Digital Age Reshapes Literature | 1/21/2009 | See Source »

...Some of the aggressive questioning techniques used on Qahtani, although permissible at the time, are no longer allowed.' THE PENTAGON, saying more restrictive policies have been adopted since al-Qahtani was interrogated...

Author: /time Magazine | Title: Verbatim | 1/21/2009 | See Source »

...competent, representative government. They defined the war on terrorism so broadly that it put the U.S. in conflict not only with al-Qaeda but also with Hizballah and Hamas, with the Shi'ite theocracy in Iran and even with relatively secular autocracies like Syria's. They vowed to no longer tolerate dictatorships in the Middle East, which essentially committed the U.S. to a policy of regime change toward not only our enemies but most of our allies as well...

Author: /time Magazine | Title: The Solvency Doctrine | 1/21/2009 | See Source »

...people of poor nations, we pledge to work alongside you to make your farms flourish and let clean waters flow; to nourish starved bodies and feed hungry minds. And to those nations like ours that enjoy relative plenty, we say we can no longer afford indifference to suffering outside our borders; nor can we consume the world's resources without regard to effect. For the world has changed, and we must change with...

Author: /time Magazine | Title: Obama's Inaugural Address: The Full Text | 1/20/2009 | See Source »

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