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...more macro way, Goldman and Morgan Stanley in particular were facing the equivalent of a bank run in September 2008, as fear-stricken hedge funds for which they were prime brokers pulled out their assets. The firms would have been toast if the government hadn't allowed them to become bank holding companies overnight, giving them access to almost unlimited funds that the Federal Reserve makes available to banks...

Author: /time Magazine | Title: What's Still Wrong with Wall Street | 10/29/2009 | See Source »

...uranium to Russia in smaller installments and over a longer time frame, to test the bona fides of its partners without surrendering most of its stockpile at the get-go. But the French and other Europeans warn that such adjustments would be a deal breaker - precisely because their prime objective is to remove Iran's stockpile...

Author: /time Magazine | Title: Behind Iran's Response on the Nuclear Deal | 10/29/2009 | See Source »

...northern parts of India, particularly Delhi, in which armed mobs set fire to Sikh homes and businesses, killed unarmed men, women and children and attacked gurdwaras, Sikh places of worship. The violence, which left almost 3,000 people dead, was a reaction to the assassination of the country's Prime Minister, Indira Gandhi, on Oct. 31, 1984, by her two Sikh bodyguards, Beant Singh and Satwant Singh. Earlier, in June, Gandhi had approved Operation Bluestar, a mission to flush out Sikh separatists who had amassed weapons in the Golden Temple in Amritsar in northern India. While the operation was considered...

Author: /time Magazine | Title: India's 1984 Anti-Sikh Riots: Waiting for Justice | 10/28/2009 | See Source »

...banished the Palestinian Authority official responsible for the holy sites for two weeks. Nor is that a new development: while Abbas continues go through the motions demanded by the Obama Administration, he has reportedly threatened to quit and warned that no peace is possible with the hawkish government of Prime Minister Benjamin Netanyahu. And many leaders of Abbas' own Fatah movement are now privately talking about going back to the barricades. A split has emerged between Abbas and a younger generation of Fatah commanders who have lost patience with his faith in a U.S.-led peace process that has left...

Author: /time Magazine | Title: As Tensions Rise, Jerusalem Could Pose a New Crisis | 10/28/2009 | See Source »

SALI BERISHA, Albania's Prime Minister, calling on India's government to send Mother Teresa's remains to the country where she was born...

Author: /time Magazine | Title: Verbatim | 10/26/2009 | See Source »

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