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...worst economic crisis since the Depression and the unemployment and precarious finances that come with it. As a result, politicians like Democratic U.S. Representative Chaka Fattah, many of whose Philadelphia constituents have received the Citgo fuel, wonder why U.S. oil giants like ExxonMobil - which saw a record $40 billion profit in 2007 and probably broke that in 2008 - don't take advantage of the same p.r. boon that Chávez reaped. "There is no doubt that the Exxons in this country should be participating in a program like this," says Fattah. "It is vitally important, and it would cost...

Author: /time Magazine | Title: Why Can't Big Oil Match Hugo Chávez? | 1/7/2009 | See Source »

...been director since 1997 of the Leon & Sylvia Panetta Institute for Public Policy, an leadership non-profit based at California State University in Monterey Bay, Calif. He has also taught public policy courses through the Institute and at Santa Clara University...

Author: /time Magazine | Title: CIA Director: Leon Panetta | 1/6/2009 | See Source »

...fire. In fact, Hamas believes it is winning the political battle, as images of the horrors being suffered by the Palestinian civilian population flash around the world. And it wants to ensure the survival of as much of its military and organizational capabilities as possible so as to best profit from an eventual truce...

Author: /time Magazine | Title: Despite Gaza Attacks, Hamas Thinks It Has the Upper Hand | 1/6/2009 | See Source »

Hedge funds are designed to take in more and more investors' money. Then inefficiencies and performance distortions of withdrawing money for investors and profit-taking for managers are smoothed out. The recent failures in hedge funds, while rooted in the financial meltdown, have been further fueled by the lack of new investment as well as pressure from current investors to take their money and run. Regardless of a fund's investment strategy, liquidation tends to make unrealized gains smaller - and unrealized losses larger - when they are finally realized...

Author: /time Magazine | Title: The Ponzi Scheme in Every Hedge Fund | 1/5/2009 | See Source »

...design, hedge funds benefit managers more than investors. Since the liquidation of assets always results in slippage - the more that is sold, the worse the price - managers for every hedge fund always get the "best" 20% of the profit...

Author: /time Magazine | Title: The Ponzi Scheme in Every Hedge Fund | 1/5/2009 | See Source »

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