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...particular risks that brought the company to the brink of bankruptcy seem to lie not with its core insurance businesses but with its derivatives-trading subsidiary AIG Financial Products. AIG FP, as it's called, merits a mere paragraph in the nine-page description of the company's businesses in its most recent annual report. But it's a huge player in the new and mysterious business of credit-default swaps: derivative securities that allow banks, hedge funds and other financial players to insure against loans gone...

Author: /time Magazine | Title: Why the Government Wouldn't Let AIG Fail | 9/16/2008 | See Source »

...only here in the United States, but amongst our Caribbean neighbors as well. In Haiti, 800,000 people require immediate aid, while infrastructure has suffered an estimated $4 billion worth of damage from Hurricane Ike alone. In light of the magnitude of these numbers, the additional offer of a mere $9.5 million by USAID to hurricane relief in the island nations rings hollow. Americans, so preoccupied by the fear of damage to New Orleans yet again, sadly seem to have forgotten the many Caribbean islands literally in the path of the storm. This domestic anxiety may, in part, be attributed...

Author: By The Crimson Staff | Title: A Lesson Learned? | 9/16/2008 | See Source »

...ownership and control of the intellectual property they're selling. Harry Potter quickly made J.K. Rowling one of the richest women in the world. But Amy and Dan are company property. In the post-Potter world, publishers realize there's too much money at stake to risk letting a mere author get his or her ink-stained hands...

Author: /time Magazine | Title: The 39 Clues: The Next Harry Potter? | 9/9/2008 | See Source »

...about being in your backyard, being Luke Skywalker and Han Solo," he says. "It's that role-playing; it's about being involved in a story. That's what kids want." But what if those extra dimensions send kids the message that for a story to feel real, a mere book isn't enough? With its glossy clear plastic front cover, The Maze of Bones hardly looks like a book at all. It looks like a toy. Like Voldemort and his horcruxes, its soul has been divided among multiple vessels. But what Voldemort failed to understand, of course, is that...

Author: /time Magazine | Title: The 39 Clues: The Next Harry Potter? | 9/9/2008 | See Source »

...Some people call conventions mere pomp and pageantry, a time for the good old boys to wring hands, pat each other’s backs, and schmooze with each other before attending a superficial exercise to nominate a candidate who has already won the primaries. But that’s not what I saw. What I saw—all the way from an incredible portrait exhibit in the daytime convention center, where every issue group imaginable caucused each day, to my seat in a club space at Invesco Field—was a party comprised of incredibly varied...

Author: By Robert G. King | Title: Faces of the Party | 9/9/2008 | See Source »

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