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...laundering. But between 1992 and 1998, the label churned out 11 multiplatinum albums. Gangsta rappers reveled in their outlaw mystique, crafting ultra-violent tales of drive-bys and stick-ups designed to shock and enthrall their primary audience--white suburban teenagers. "Hip-hop seemed dangerous; it seemed angry," says Richard Nickels, who manages the hip-hop band the Roots. "Kurt Cobain killed himself, and rock seemed weak. But then you had these black guys who came out and had guns. It was exciting to white kids...

Author: /time Magazine | Title: Hip-hop's Down Beat | 8/17/2007 | See Source »

...drawings, which historians say may be the most important Galileo find in more than a century, are in a specimen of Galileo's volume that had long been secreted away in the collection of an anonymous South American. At the request of New York-based rare-books dealer Richard Lan, who now owns it, Bredekamp and his associates examined the drawings over the course of two years, dating paper and ink and comparing brushstrokes with other known Galileo sketches. Bredekamp believes that Galileo, who was overseeing the printing of Sidereus Nuncius, drew the moons on the pages of a proof...

Author: /time Magazine | Title: Galileo's Moon View | 8/16/2007 | See Source »

...things get really complex--CDOs created from other CDOs, synthetic CDOs crafted from credit-default swaps, none of which had experienced a down market. "The problem is that CDOs were untested. There was not much history to suggest CDOs would behave the same way as AAA corporate bonds," says Richard Bookstaber, a hedge-fund manager and author of A Demon of Our Own Design, who views market palpitations as a predictable by-product of complex financial products like CDOs. (For the author's take on the subprime disaster, go to time.com/bookstaber....

Author: /time Magazine | Title: Ground Zero of the Real Estate Bust | 8/16/2007 | See Source »

...Johnny Carson was TV's aloof arbiter of taste, Merv Griffin, who died Aug. 12 at 82, was the welcoming show-biz uncle who seemed to want everyone he brought on his talk show to become a star--including Richard Pryor and George Carlin, whose careers he helped launch. He laughed at his guests' jokes, gushed at their stories, joined them in songs--perfecting an easygoing, unironic manner that was seemingly impervious to the winds of change. Far more than a TV personality, though, the former Big Band singer was also a creator and entrepreneur. In 1964 he came...

Author: /time Magazine | Title: The TV Mogul with the Common : Merv Griffin | 8/16/2007 | See Source »

...campaign to bring this iconic and invaluable institution back to its rightful place at the center of the city's life. Her contributions to this effort were, and remain, immeasurable, but to highlight just a few, it is important to note that it was she who recruited cosmetics mogul Richard B. Salomon and, later, former chairman of Time Inc. Andrew Heiskell to the cause. She also brought together New York high society, and helped to form an alliance not only with writers, artists, journalists and politicians, but also with corporate America so everyone could do their part and their duty...

Author: /time Magazine | Title: Remembering the First Lady of New York | 8/15/2007 | See Source »

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