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...countries sent ripples through the global financial system, beginning with Thailand's devaluation of the baht after a collapse of the nation's real estate bubble. In 2007, it is the U.S. and its subprime mortgage borrowers causing the greatest disturbance in credit markets in a decade. At the root of the turmoil is aggressive lending to American home buyers who previously were unable to obtain credit. Financial engineers pooled these loans together and sold off pieces representing different presumed levels of risk. In the process, the nonbank financial institutions buying these "structured credit products" - hedge funds and other supposedly...

Author: /time Magazine | Title: Asia Rising | 9/13/2007 | See Source »

...Cronenberg made his name in the 70s as the perpetrator of cleverly icky films - Shivers, Rabid, The Brood - that found an adult outlet for the fears at the root of the horror genre. His 1986 remake of The Fly still stands as an eloquent treatise on man's determination to cope with a degenerative disease: cancer, AIDS or, in this case, a slavering, 6ft.-tall insect...

Author: /time Magazine | Title: Two Weird Canadian Geniuses at Toronto | 9/10/2007 | See Source »

...past few years, Harvard life has undergone an exhaustive microscopy. Each facet of campus life has been examined and every element of our academic structure probed in a furious attempt to uncover what it is that makes so many of us unhappy. But one root of our ills doesn’t hide in our days at Harvard—it is created in our days...

Author: By Garrett G.D. Nelson | Title: End Days for Dog Days | 9/10/2007 | See Source »

...Edens (Tom Wilkinson), has gone nuts, cavorting naked in a parking lot. The most superficial familiarity with The Parallax View and other political-paranoia movies of the 70s - or with the crimes of EnRon and other big companies - will cue the viewer to expect corporate dirty tricks at the root of Arthur's frayed mental state. The two men will find ruthless adversaries both in the corporation's chief counsel (British actress Tilda Swinton, superbly on-pitch as always) and in their own firm's steely partner (Sydney Pollack, extending his streak of likably slimy plutocrats). The game is dangerous...

Author: /time Magazine | Title: Hollywood Stars' Do-Gooder Deeds | 9/9/2007 | See Source »

...which includes both villagers and outsiders, plots the direction of EVI with the consent of residents. The 60 tidy homes, all duplexes to save energy, are privately owned by the residents, who pay a monthly fee for the upkeep of common buildings and future capital projects, like a shared root cellar for storing vegetables. Most of the territory is undeveloped and reserved for community space, where parents allow their kids to go free range, trusting that other villagers will be there to look out for them...

Author: /time Magazine | Title: Green Acres | 9/6/2007 | See Source »

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