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...clear departure from the historical norm, the White House is not cheering the return of huge profits to Wall Street. On the contrary, the recent windfalls at Goldman Sachs and JPMorgan, and the promise of giant year-end paydays for banking executives and traders, has caused a bit of consternation in the West Wing, coming as it does so soon after the taxpayer bailouts saved the entire financial system from total collapse...

Author: /time Magazine | Title: Goldman's Sudden Boom Could Be a Bust for Obama | 7/17/2009 | See Source »

...other places where smoking was once a national pastime, compliance with the ban is high: 97% in New York City, 98.5% in Italy and 94% in Ireland, according to the U.S-based Global Smokefree Partnership. "There will be a transition period, which lasts several months, while people realize the cultural norm has shifted," says The Union's Ratte. "But we have the example of France to go by. Nobody thought it was possible, but after the cut-off date, the norm changed overnight." (See a video on the end of the French custom of smoking in bars and restaurants...

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

...spending is all it took to get Al Franken elected U.S. Senator from Minnesota. The longest race in the state's history came to an end when the Minnesota Supreme Court ruled unanimously for the former comedian, giving him the win by 312 votes. In the end, GOP incumbent Norm Coleman conceded gracefully, saying, "The future today is ... Al Franken." The belated victory gives Democrats a filibuster-proof majority of 60 votes just as the Senate is expected to tackle the confirmation of Supreme Court nominee Sonia Sotomayor and health-care reform...

Author: /time Magazine | Title: The World | 7/13/2009 | See Source »

...Norm Bellingham, chief operating officer for the USOC, insists that the IOC was informed of the network's plans for months. "We never heard any negative feedback from them," says Bellingham. "By the time we heard that they prefer that we hold off, we just did not feel like that was viable." (See 10 things to do in Chicago...

Author: /time Magazine | Title: How Olympic TV May Kill Chicago's 2016 Bid | 7/13/2009 | See Source »

...once again had to deconstruct the implications of such reasoning. Are legal minors in The Netherlands somehow less worthy than American children? Is there some cultural norm about sex in Dutch society that makes children mature enough to rationally decide to sell their bodies to men double, triple, even quadruple their...

Author: By Ahmed N. Mabruk | Title: Red Light | 7/8/2009 | See Source »

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