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...every one of those early explanations as being too specific. Some economists have even questioned whether there was a credit crunch. Economic professor René Stulz of Ohio State University, for one, has written papers trying to clear Wall Street pay and credit-default swaps of any blame. Despite recent apologies, Goldman Sachs executives, too, say that they are no more to blame than anyone else in the financial markets. (See high-end homes that won't sell...

Author: /time Magazine | Title: Hearings to Begin on Causes of Financial Crisis | 1/11/2010 | See Source »

...volume commemorates a recent exhibition of the same name at the Asia Society in New York City, and includes the work of 15 artists born from 1941 to 1981 - years when the democratic ideals of Muhammad Ali Jinnah, Pakistan's first leader, slowly warped into Islamic nationalism and, later, iron rule by military dictators backed by foreign governments. But Pakistani art also began to mature during this period. Galleries and journals were established, and artists like Chughtai and Sadequain flavored their international modernism with local flair. See the top 10 nonfiction books...

Author: /time Magazine | Title: Beyond the Bullets | 1/11/2010 | See Source »

...governor's proposed cuts go through, it will shred the safety net," says Jean Ross, executive director of the California Budget Project, a think tank focused on low- and middle-income families. A recent study by this nonpartisan group found that the state, now suffering 12.3% unemployment, has lost all of the nonfarm jobs gained during the recent economic expansion. Nonfarm employment rose from 14.3 million in 2003 to a peak of 15.2 million in 2007. By July, it had fallen to 14.2 million...

Author: /time Magazine | Title: California Deficit: Arnold Has to Make 'Sophie's Choice' | 1/9/2010 | See Source »

...reason for their anger is a recent judgment by Malaysia's high court that the word Allah is not exclusive to Muslims. Judge Lau Bee Lan ruled that others, including Catholics who had been prohibited by the Home Ministry from using the word in their publications since 2007, can now use the term. She also rescinded the prohibition order that forbade the Malay-language edition of the Catholic monthly the Herald to use Allah to denote the Christian God. After widespread protests, however, the judge granted a stay order on Jan. 7, the same day the government appealed...

Author: /time Magazine | Title: Can Christians Say 'Allah'? In Malaysia, Muslims Say No | 1/8/2010 | See Source »

...Although Evangelical influence over the DUP has waned in recent years, Evangelical congregations - particularly those in rural Northern Ireland - still form the backbone of the party founded by the Rev. Ian Paisley in 1971. The couple's standing among these devout members is now likely to deteriorate. "The Robinson affair will be difficult for core DUP supporters," says Gladys Ganiel, a lecturer at Trinity College Dublin and author of a book on Evangelicalism in Northern Ireland. "It certainly doesn't hurt to talk about your faith in public in Northern Ireland politics, and no one has done that more than...

Author: /time Magazine | Title: Mrs. Robinson: Northern Ireland's Own Sex Scandal | 1/8/2010 | See Source »

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