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...deposit insurance - this just extends the idea to the rest of the bank's liabilities, which get covered by implicit too-big-to-fail guarantees. What a lot of firms don't like is the idea of having to pay a financial-crisis-responsibility fee for the next decade, as Obama has proposed to recoup TARP loans to AIG, the auto industry and smaller banks. Economists I know don't think that idea is either fair or sensible from a policy standpoint...

Author: /time Magazine | Title: An Ex–Goldman Partner Lets Loose on Wall Street | 2/2/2010 | See Source »

...Spain is similarly promising to slash its deficit of 11.4% to just 3% by 2013, although the country - which is still reeling from the recession, with unemployment of nearly 19% - has been vague about how it will do that beyond proposing $69 billion in cost-cutting measures over the next four years. Last month, French officials somehow managed to sound proud when they announced that France's 2009 deficit of 7.9% was lower than the expected 8.2% - and that they would hold it below 8.2% for the rest of this year. (Read "Why Greece Could Be the Next Dubai...

Author: /time Magazine | Title: The U.S. Is Not Alone — Europe's in Debt Too | 2/2/2010 | See Source »

...machines, swoon over the history and long to see Americans back on the moon and flying on toward Mars. For this space-happy group, here's some good news: even in hard economic times, President Obama would actually increase NASA's budget - to more than $100 billion - over the next five years. But space junkies had better be satisfied with that positive development, because it's just about the only...

Author: /time Magazine | Title: No Liftoff: Obama's Plan Grounds NASA | 2/2/2010 | See Source »

...though Bolden filled his prepared remarks with all the usual promises to "blaze a new trail," answer a "bold challenge," "spur innovation" and, of course, inspire young people, the fact of the matter is that the new plans will keep America on the ground for most of the next decade or longer. And whenever U.S. astronauts finally do return to space, they won't be going very far. (See the 40th anniversary of the moon landing...

Author: /time Magazine | Title: No Liftoff: Obama's Plan Grounds NASA | 2/2/2010 | See Source »

...classical Hollywood cinema, and at the same time, points forward towards the new Hollywood, which was America’s equivalent of the French New Wave.” The Ford festival will screen twenty-two films at its initial presentation this winter, and forty more movies in the next six months...

Author: By Zachary N. Bernstein, CONTRIBUTING WRITER | Title: HFA Series Honors the Films of Director Peter Bogdanovich | 2/2/2010 | See Source »

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