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...TIME's special report on the environment...
...center, often with little oversight of the mathematical models that spit out numbers about what it was all worth. The models proved spectacularly wrong because they precluded the possibility of an outsize event. Once big shocks, like declining home prices, started hitting, the models broke down. According to a report by a group of U.S. and international regulators, while some firms tried to understand what would happen to their models in truly adverse conditions, plenty of others didn't. In some cases, finance outfits barely examined their products, instead relying on the evaluations of outside ratings agencies, even as they...
...Clean coal" can refer to new technologies that remove pollutants like soot and sulfur dioxide from the waste process, or it can mean capturing and sequestering the carbon burned in coal. The former exists--the Dominion plant is a good example--but the latter does not. And a new report by the International Energy Agency noted that research for sequestration projects remains badly underfunded. "Clean coal is like healthy cigarettes," Gore said. "It does not exist...
...TIME's special report on the environment...
...Both Republicans and Democrats in Iowa report smooth sailing so far but appear reluctant to sound too cocky. They haven't heard of any major complaints at polling places and are concentrating on turning out voters. "Everything is going smoothly," says Nathan Treloar, the Iowa Republican Party's communications director. There have been reports of lines, especially in more densely populated precincts early in the morning, he says. Republicans have been busy doing the "bare basics, getting out there, contacting voters that we need to turn out and double-checking absentee requests that have not been returned," he says...