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...small or if the White House simply didn't have a handle on the seriousness of our economic ills. When an interviewer posed a similar question on National Public Radio, the chair of the President's Council of Economic Advisers, Christina Romer, replied, "It's important to realize that none of us has a crystal ball...

Author: /time Magazine | Title: Why Are Economists So Bad at Forecasting? | 7/17/2009 | See Source »

...Part of the reason Turkey adopted the new legislation was to comply with requirements set out by the European Union, which the country is seeking to join. But the law also dovetails with the Islamic-rooted government's deep distaste for tobacco and alcohol. None of Erdogan's ministers smoke, and previous governments had been trying to introduce similar laws for years, only to be stymied by strong pressure from tobacco lobbyists. Turks spend almost $25 billion a year on cigarettes. (Read: "New Turkish Law Curbs Military's Power...

Author: /time Magazine | Title: Lights Out: Turkey is Next to Ban Smoking | 7/17/2009 | See Source »

...that wasn't enough to end the bank's troubles. In February, the Department of Justice filed a civil lawsuit against UBS seeking the identities of 52,000 more Americans suspected of stashing a total of $15 billion at the bank. This time, the Swiss were having none of it. Citing bank-client confidentiality guaranteed in the Swiss constitution, Switzerland's government has forbidden UBS from complying. It has also threatened to "take control of the data at UBS" to prevent the bank from handing the accounts over to the Americans...

Author: /time Magazine | Title: U.S. vs. UBS: A Fight Over Secret Swiss Bank Accounts | 7/15/2009 | See Source »

...former federal prosecutor. "Now, there can be criminally negligent homicide if there is such gross recklessness. Theoretically, I suppose you could file some sort of second-degree murder charge, but it's hard for me to imagine that they will be able to show that kind of recklessness. But none of us know the facts yet of what he died of or what these doctors were doing." Involuntary manslaughter carries a criminal penalty of two to four years of jail time...

Author: /time Magazine | Title: Jackson's Death: How Culpable Are the Doctors? | 7/14/2009 | See Source »

...things to drift to unrestrained nationalism," Rudd told TIME. "[I want to] avoid long-term strategic drift, avoid the possibility of America drifting away from Asia." And, as an Australian, he believes he has the power of "a creative middle-power diplomacy [that is] friends of all, enemy of none...

Author: /time Magazine | Title: Mr. World: Kevin Rudd | 7/13/2009 | See Source »

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