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...credit titled "Other Capital Actions." The credit is for the conversion of preferred stock that Citi says it plans to do but has not yet completed. Among the other 18 banks that were examined, only one other, Bank of America, was allowed to include a similar credit in the results of its stress test. And at $1.8 billion, BofA's credit was far less a factor in the outcome of its test than Citi's was. Since the stress tests, other banks have announced plans or have been able to quickly complete capital-raising deals. Yet, unlike Citi and BofA...

Author: /time Magazine | Title: Inside Citi's Stress Test: More like an F than a B+ | 5/14/2009 | See Source »

That's the kind of pick-your-perspective choice offered by a new paper published in the journal Science about the catastrophic rise in sea levels we could expect if the West Antarctic Ice Sheet (WAIS) continues to melt away as a result of global warming. According to a study by a team of researchers from the U.K. and the Netherlands, the much feared collapse of the WAIS could cause a 9-ft. rise in the planet's seas and oceans, laying waste to coastal lands and immersing some nations entirely. That's a doomsday scenario by most measures - until...

Author: /time Magazine | Title: Sea-Level Rise Overstated, but Things Still Grim | 5/14/2009 | See Source »

Rumors abound that the administration is planning to cut dining hall workers as a result of cutting breakfast. One cook in Adams has even pinpointed a target number: eliminating two dining hall workers from every House, either through early retirement or layoffs. How does he know this secret information? A student forwarded this email over to Adams Schmooze...

Author: By Bonnie J. Kavoussi | Title: Budget Plinko, Part III: Cutting the Bacon | 5/14/2009 | See Source »

...Secondly we hope we can avoid the marginalization of Taiwan as a result of regional economic integration in Asia. If we are able to have the ECFA with China, I think the pressure on our trading partners will be reduced. Many countries with whom we don't have diplomatic ties come to us now and say they feel a bit relieved, that if Beijing is ready to improve relations with you, why can't we? Taiwan is no longer a flashpoint in East Asia, and that's what we want. Opinion polls show the majority, sometimes a great majority, support...

Author: /time Magazine | Title: Taiwan's Ma Reflects on His First Year As President | 5/14/2009 | See Source »

...destroyed and the loss of much of the southern part of the country to Shi'ite insurgents, but Saddam held on and remained in power. The Iranian regime believes it can weather the same degree of losses, especially as it has adequately prepared its populace for "martyrdom." As a result, it believes it is able to withstand much greater human and material losses than the U.S. A $100-per-bbl. spike in the price of oil and a few thousand Americans dead, its thinking goes, will convince the U.S. to seek a truce...

Author: /time Magazine | Title: Understanding Iran's Deterrence Game | 5/13/2009 | See Source »

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