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...Australia is so way Down Under that what happens there often seems far removed from the rest of the world. Not this time. The Aussies' aggressive tightening is seen as the start of the global exit from the unprecedented liquidity governments have injected into their financial systems to avert an economic depression. (See pictures of the global financial crisis...

Author: /time Magazine | Title: Why Some Countries Are Stopping Their Stimulus | 11/9/2009 | See Source »

...weight. But Reagan's speech presciently identified Berlin as the proving ground of Gorbachev's intentions to open up the communist bloc. If Gorbachev truly sought peace and liberalization, Reagan said in Berlin, then he should let the Wall come down. In the end, Gorbachev did, and the rest of the Iron Curtain followed. Allowing democracy to spread through Eastern Europe in 1989 was Gorbachev's greatest accomplishment; in this drama, Reagan was the supporting actor. Nevertheless, as Sean Wilentz, a liberal historian, wrote in 2008, Reagan's "success in helping to finally end the Cold...

Author: /time Magazine | Title: Reagan's Speech That Ended the Cold War | 11/9/2009 | See Source »

...flying is a game with no room for error. And yet pilots' jobs are getting harder. Cost-cutting has trimmed starting pay at major airlines to $36,000--little more than a grade-school teacher's. Multiple short flights make it difficult for regional pilots to squeeze in adequate rest. The national air-traffic system relies on antiquated radio and radar; a teenager with an iPhone has more-advanced technology. There are ways to make the skies safer. Improving life in the cockpit would be a start...

Author: /time Magazine | Title: The Moment | 11/9/2009 | See Source »

...Today approximately one-quarter of the school's 780 students are city residents, with the rest spread across the inner and outer suburbs. The school allocated $1.4 million in financial aid this year to students who could not afford the $9,990 tuition. "We will not turn away any student who is qualified to come here," says U of D principal Gary Marando...

Author: /time Magazine | Title: Jesuit Message Drives Detroit's Last Catholic School | 11/9/2009 | See Source »

...banks and financial markets do enable prosperity. But as we emerge (we hope) from a deep economic downturn brought on by a banking and financial crisis, that's not enough of an answer. We need to know whether the financial sector's profits, and its paychecks, can leave the rest of us worse off. In other words, are bankers worth...

Author: /time Magazine | Title: Are Bankers Worth Their Big Paychecks? | 11/9/2009 | See Source »

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