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...institutions to blame for the financial crisis would include credit-rating agencies - the companies that assign letter grades to everything from General Electric's bonds to Malaysia's sovereign debt, indicating the chances that investors will lose money. The CEOs of the three largest agencies - Moody's, Standard and Poor's and Fitch - were assailed by Congress in October for the way their firms made record profits while raising few, if any, red flags about how massively risky mortgage-related securities had become...

Author: /time Magazine | Title: The SEC's Next Challenge: Fixing the Ratings Agencies | 4/15/2009 | See Source »

...every analyst is convinced that a $4,000 or $5,000 rebate would convince suddenly spendthrift U.S. consumers to buy a new car - especially the sort of customers who would own a clunker in the first place. "Either this program won't make them buy, or they're just poor," says Wolkonowicz. But a cash-for-clunkers deal with tough enough fuel standards would at least be a way to throw Detroit another lifeline without sinking the planet - even as Washington seeds longer-term demand for more-efficient vehicles. The key, like any used car contact, is to check...

Author: /time Magazine | Title: Cash for Clunkers: A Green Deal to Help Detroit? | 4/15/2009 | See Source »

John Kamin, 23, a student at Hofstra University in New York who uses Facebook, says it's "absurd" to associate the social network with poor grades or lack of aptitude. "It's a networking tool for people," says Kamin, who adds that he spends about an hour a day on Facebook, far less time than he spends playing the addictive game Brick Breaker on his BlackBerry - there's that question of users' distractability and tendency to procrastinate. But, Kamin says, "I don't think someone is more or less intelligent because they sign up for it." (See pictures...

Author: /time Magazine | Title: What Facebook Users Share: Lower Grades | 4/14/2009 | See Source »

With charges financial firms misusing the money that the government has given them and concerns that they will be poor stewards of capital that they might receive once the results of the Administration's "stress test" of banks is done, Allison might as well stay at Fannie...

Author: /time Magazine | Title: A New Boss to Be Bossed by TARP Overseers | 4/14/2009 | See Source »

...piracy in that region." But Gates made it clear that the real solution isn't on the high seas. Instead, it's back along the Somali coast in the impoverished villages and towns that the pirates call home. "As long as you've got this incredible number of poor people and the risks are relatively small," he said, "there's really no way in my view to control it unless you get something on land that begins to change the equation for these kids...

Author: /time Magazine | Title: Washington Wrestles with the Pirate Problem — on Land | 4/14/2009 | See Source »

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