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...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 »

...assassinated two world leaders. The rebels, based in northern and eastern Sri Lanka, have been waging a violent offensive against the central government on and off for more than 20 years. Federal forces recently announced they had captured the Tigers' capital, Kilinochchi, but it's a safe bet that, regardless of territory lost or possibly dwindling ranks, the guerillas will not give up their fight willingly...

Author: /time Magazine | Title: The Tamil Tigers | 1/4/2009 | See Source »

...always reminded us that it was important to stand up for your rights, and regardless of who you are and where you come from, to hold your head up high with dignity and respect." - On what she learned from her father (California Journal...

Author: /time Magazine | Title: Labor Secretary: Hilda Solis | 12/22/2008 | See Source »

...fourteenth century, Parliament decided to limit the privilege to its own members. Four hundred years later, in the newly independent United States of America, Constitutional Convention delegates debated over how to include the process in the Constitution. In England, Parliament tended to impeach politicians it didn't like, regardless of offense - but the Constitution's creators didn't like this, and decided to limit impeachment only to crimes of treason and bribery. Virginia convention delegate George Mason suggested that the term "high crimes and misdemeanors" be added to the list of impeachable offenses (in 18th century England, a "high misdemeanor...

Author: /time Magazine | Title: Impeachment | 12/19/2008 | See Source »

...brought to the U.S. [Dec. 8]. If this were done, he says, "avowed terrorists" might walk away "on a technicality." In light of recent Supreme Court decisions making the writ of habeas corpus available to Guantánamo detainees, this is precisely how those detainees are to be tried, regardless of venue. To downsize a constitutional right into a technicality in the field of American jurisprudence is equivalent to considering gravity a technicality in the field of physics. Franklin Morse II, SUTTONS BAY, MICH...

Author: /time Magazine | Title: Detainees' Rights | 12/18/2008 | See Source »

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