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...Most importantly, the government stipulated that in order to become eligible for government funding, banks would have to give up something - namely equity - in return. In the case of one leading bank, the mere prospect of the government taking a stake was enough to persuade shareholders to dig deeper and raise money on their own. For the rest, the government was able, once the markets rebounded, to sell off the stakes it had acquired, making a profit that was effectively returned to taxpayers' coffers. At one point the government controlled more than 20% of the entire banking system...

Author: /time Magazine | Title: Sweden's Model Approach to Financial Disaster | 9/24/2008 | See Source »

...country in western Europe in recent years and its banks have helped finance the economic boom in the Baltics and points east. Whether its approach could work in the far larger and more complicated U.S. market isn't clear. Certainly the captains of Wall Street would bray over the mere hint of nationalization. But with hundreds of billions of dollars at stake, it might be worth, at the very least, a hard look...

Author: /time Magazine | Title: Sweden's Model Approach to Financial Disaster | 9/24/2008 | See Source »

...Course, where the U.S. Open will be played in 2009. Players in this week’s tournament could see officials preparing the course in anticipation of the June major. This year’s team is a much more consistent, able, and cohesive bunch, as indicated by the mere nine shot difference between scores from the best and worst rounds posted by Crimson competitors. “Consistently providing good scores up and down the team, one through five, is how you make a good team,” Shore said. “And, we?...

Author: By Elizabeth A. Joyce, CRIMSON STAFF WRITER | Title: Steady Play at Season Opener | 9/21/2008 | See Source »

Georgiana Spencer (Keira Knightley) was a mere 17 years old when the Duke of Devonshire (Ralph Fiennes) began courting her - not that the ways of courtliness were among His Grace's skill sets. It is hard to imagine, in fact, what commonly recognizable human traits - aside from a passion for his dogs - this dour, emotionally constipated 18th-century man possessed. Essentially, he was doing a deal with Georgiana's mother (Charlotte Rampling), who has assured her that the Spencer women are historically adept at producing male heirs. And the Duke, whose other negative attributes included stupidity, believed...

Author: /time Magazine | Title: Keira Knightley as a Feisty, Cool Duchess | 9/18/2008 | See Source »

Flying from the United States to West Africa and back is surprisingly easy if you’re lucky enough to have the money to do it. Boarding a plane in Accra, Ghana and touching ground in New York City a mere 11 hours later is an incredible feat considering that even with the ease of flight, not very long ago, direct trips from Africa to the Americas were essentially unheard of. This travel ease is a new phenomenon, preceded by centuries of a crueler sort of journey. The captivity and forced migration of Africans...

Author: By Emma M. Lind | Title: Hearing a Culture of Silence | 9/16/2008 | See Source »

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