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Still, Arnuk says the problem isn't resolved so long as exchanges are making markets more opaque and multi-tiered than ever. "If small investors and if long-term investors - and by long-term investors, I mean longer than a few seconds - if long-term investors don't have confidence that they're on [a level] playing field with giant supercomputers ... How are they going to feel about owning equities? That's the real scare...

Author: /time Magazine | Title: High-Frequency Trading Grows, Shrouded in Secrecy | 8/5/2009 | See Source »

...that doesn't mean there aren't grim pockets elsewhere. By the end of March 2011, Deutsche Bank projects, 65% of borrowers in the Chicago metro area, 71% of those in the Baltimore and Portland, Ore., areas, and 77% in greater New York City will be underwater. On paper, that might look a lot better than the 93% Deutsche Bank is expecting for Fort Lauderdale, Fla., and the 92% figure for El Centro, Calif. But to the people living in those houses, unable to move, the relative good fortune will likely be little consolation...

Author: /time Magazine | Title: Half of All Mortgage Holders Expected to Be Underwater | 8/5/2009 | See Source »

...problems stem from Areva's impossibly low bid. "Though getting the world's first third-generation reactor completed will give Areva some big advantages over rivals, the Finnish project has cost it a lot in terms of credibility, and a lot of people are looking on saying: 'You mean if you ever complete it,' " says Barnett. "Westinghouse will complete its third-generation reactor in China later, but it will be able to say it did so on time and on budget...

Author: /time Magazine | Title: Areva's Field of Dreams | 8/5/2009 | See Source »

Give up? I didn't know what to say. She was in her forties, or fifties maybe, and had spent a decade working on this novel. I wanted to shake her. I mean, what the fuck do I know? I'm just an intern. I don’t want to be responsible for crushing her dream, for crushing anyone's dreams...

Author: By Emily C. Graff | Title: Pass | 8/4/2009 | See Source »

...position to lend support to Moscow's attempts to keep Ukraine close, given its claims to spiritual authority over Ukrainian territory. "Our historical past is here, and our future will to a large extent be decided here," said Kirill on Ukrainian national television on July 28. "By our, I mean all of us, people who belong to the one civilization of ancient Rus." (Watch a video about a Russian roadtrip...

Author: /time Magazine | Title: Faith or Politics? The Russian Patriarch Ends Ukraine Visit | 8/4/2009 | See Source »

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