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...Nonetheless, on Wednesday, in front of the Financial Crisis Inquiry Commission (FCIC), the bank executives tried to paint a picture that the failures that caused the crisis were missteps by management, sometimes even themselves, but not the result of faulty regulation. Lloyd Blankfein, CEO of Goldman Sachs, told the panel, "After the shocks of recent months and the associated economic pain, there is a natural and appropriate desire for wholesale reform. We should resist a response, however, that is solely designed around protecting us from the 100-year storm." (See the top 10 crooked CEOs...

Author: /time Magazine | Title: Bank CEOs Continue to Fight Financial Reform | 1/14/2010 | See Source »

...Ciba Pharmaceuticals as Dianabol. But there was already a dark side. Ziegler's test subjects quickly started abusing the drugs and developed such side effects as swollen prostates or shrunken testicles - an outcome that would prompt the doctor to condemn his own creation before his death in 1983. Nonetheless, by the early 1960s pharmaceutical companies had developed nearly a dozen rival steroids, which quickly gained popularity off-label with athletes. In 1976, the International Olympic Committee became the first sports group to ban steroids. (See the top 10 sporting moments...

Author: /time Magazine | Title: Steroids | 1/13/2010 | See Source »

...that animals are more sensitive to shaking than humans are, so they may feel a tremor a few seconds before we do. But you need the right animal in the right spot at just the right moment, and even then, that detection doesn't buy you much extra time. Nonetheless, Blanpied says, the research goes...

Author: /time Magazine | Title: Could the Haiti Earthquake Have Been Predicted? | 1/13/2010 | See Source »

Here's something you probably know: Neanderthals did not shop at Tiffany's. Here's something you probably don't: They nonetheless had impressive taste in jewelry, a fact that makes them a bit more intelligent than we thought - and humans a bit less special...

Author: /time Magazine | Title: What Did the Well-Dressed Neanderthal Wear? Jewelry | 1/12/2010 | See Source »

...Nonetheless some observers say commissions like the FCIC tend to underwhelm. James Madison University political-science professor Glenn Hastedt, who has written about the 9/11 commission, says politicians shouldn't wait for the FCIC to come up with its conclusions before enacting financial reforms. He says the 9/11 commission did little more than reassure the public that the government was aware of terrorism. "What is the main goal here? If it is to educate and reassure, commissions do that very well," says Hastedt. "But don't look to the FCIC for solutions. Commissions don't do that very well...

Author: /time Magazine | Title: Hearings to Begin on Causes of Financial Crisis | 1/11/2010 | See Source »

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