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...once powerful private equity firm, swept into Detroit in the autumn of 2006 to acquire a 51% stake in GMAC, General Motors' financial arm, and less than a year later it drove off with Chrysler, described at the time as the "capstone" of Cerberus' industrial empire. Never mind that the seller, Daimler, was only too happy to get rid of the auto company...

Author: /time Magazine | Title: What Uncle Sam Gave Detroit For Christmas | 12/26/2008 | See Source »

Harold Pinter was speaking to the press just after receiving the Nobel Prize for Literature in 2005. "I was told today that one of the Sky channels [the satellite news network owned by Rupert Murdoch] said this morning that Harold Pinter is dead.' Then they changed their mind and said, 'No, he's won the Nobel Prize.' So I've risen from the dead...

Author: /time Magazine | Title: The Pinter of Our Discontent | 12/25/2008 | See Source »

...British censor, called "a piece of incoherence in the manner of Samuel Beckett" - unintentional high praise indeed. It's the tale of an old homeless man, Jenkins (played onstage and in the excellent 1963 film version by Donald Pleasance), who is brought to the home of the simple-minded Aston (Robert Shaw) and his conniving brother Mick (Alan Bates). Jenkins begins as the ratty interloper but becomes sympathetic by default as the brothers play their mind games. The plot fits the contours of a standard nightmare: being invited into a place where you are misled and mistreated...

Author: /time Magazine | Title: The Pinter of Our Discontent | 12/25/2008 | See Source »

...Communists Party's ability to rule China, a warning echoed by other lower ranking leaders. At a December speech, Premier Wen Jiabao confessed to being particularly worried about unemployed workers and university graduates. Even the head of the country's Supreme Court warned judges to take social stability into mind when passing rulings. Overseas, too, worry swelled about just how deeply China's fragile social compact might be shaken by the experience of economic hard times for the first time in 30 years. The Obama administration should have a contingency plan for "what we would do if there...

Author: /time Magazine | Title: Will the Financial Crisis Bring Upheaval to China? | 12/25/2008 | See Source »

...holds degrees in philosophy from Oxford and Yale and, like many of Britain's elite, spent a post-graduate stint working in London's finance industry. But tonight he wants to talk about how he came to accept the Lord Jesus Christ into his heart. "I don't mind talking about my faith," he says, sheepishly. "But it's a touch embarrassing. Just don't brand me as a mindless evangelical...

Author: /time Magazine | Title: Finding Jesus in London | 12/21/2008 | See Source »

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