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...Hence the action. If AIG croaked, all the players who thought they had their bets hedged would suddenly have "unbalanced books." That could lead to firms other than AIG failing, which could lead to still more firms failing, which could lead to what economists call "systemic failure." Or, in plain terms, a financial death spiral in which firms suck one another into the abyss...

Author: /time Magazine | Title: How Financial Madness Overtook Wall Street | 9/18/2008 | See Source »

...Cream Cafe 1312 Massachusetts Ave Open daily, 6 a.m.-Midnight With fake grass covering the walls, funky lanterns, and a frozen yogurt with probiotic bacteria that helps prevent yeast infections, this is no average ice cream shoppe. In addition to its extra creamy ice cream made in nearby Jamaica Plain, the chain J.P. Licks offers hard and soft frozen yogurt, homemade baked goods, and house-roasted organic, fair trade coffee served from 6 a.m. onwards. Ice cream flavors range from the classics to seasonal choices like apple crisp to the highly recommended Oreo cake batter. Of course, there will always...

Author: By Samantha L. Connolly and Elizabeth C. Pezza | Title: Finger Lickin' Good | 9/17/2008 | See Source »

...roles in a bunch of fascinating weirdies: Francis Coppola's Rumble Fish (Mickey was Motorcycle Boy), The Pope of Greenwich Village, Michael Cimino's Year of the Dragon, the S-M erotic drama Nine 1/2 Weeks (with Kim Basinger, who also made a comeback at Venice in The Burning Plain), the satanic thriller Angel Heart (De Niro was the Devil), as a gangster in Elephant Man makeup in Johnny Handsome and a lowlife genius in a film of Charles Bukowski's Barfly directed by Barbet Schroeder (who also had a film at Venice; the Lido was one big Rourke reunion...

Author: /time Magazine | Title: The Wrestler: Mickey Rourke's Comeback | 9/6/2008 | See Source »

...Peach Pit is now serving tall skinny lattes. On Beverly Hills, 90210, the suspiciously unlined mother of all teen soaps, which ran from 1990 to 2000, even the richest kids were happy with an after-school Coke at the retro diner. Not so on just plain 90210, an extreme makeover of the '90s show debuting Sept. 2 on the CW network with new characters and - in teen years - a geologic era's worth of social and cultural updates...

Author: /time Magazine | Title: Updating Beverly Hills, 90210 | 8/28/2008 | See Source »

...McCain cannot give a great speech. True, he doesn't do it very often. But he has given compelling speeches that wrapped powerful arguments in lyrical language about honor, battle and victory. His convention speech has a different purpose: it must welcome and then reassure. It must show in plain language not one party's road to victory but what a McCain presidency would mean to all Americans. This is not the sort of convention the GOP does naturally. But in this difficult year, the Republicans must gallop, not walk, along a different path...

Author: /time Magazine | Title: Cue the Ticket Splitters | 8/28/2008 | See Source »

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