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...from the Securities and Exchange Commission and the Federal Reserve Bank of New York, have volunteered to create a clearinghouse for the hazily understood concentrations of risk known as credit-default swaps. Investors are also taking more responsibility. Over the past month, the analytics firm RiskMetrics has seen a rush of pension funds, hedge funds and asset managers signing up for tools to analyze counterparty risk. "The only folks who used to ask us about those were banks," says risk-management-practice head Gregg Berman...

Author: /time Magazine | Title: Reassessing Risk | 11/5/2008 | See Source »

...solution. "Bush deviated from the Reagan Republican vision in spending, regulation and in empire," he says, before delivering a backhanded slight to McCain: "We know that when you run as Reagan, it works." Norquist's rebel army is backed by the power gabbers of right-wing talk like Rush Limbaugh and Sean Hannity. They blame the Republican catastrophes of 2006 and 2008 on a party that abandoned its values. The party, not its ideology, failed, goes their mantra. It therefore stands to reason that Republicans must return to their core tax-cutting, low-spending ideology, or else die. "The party...

Author: /time Magazine | Title: The GOP Fallout: Cue the Circular Firing Squad | 11/5/2008 | See Source »

...When the race was called, there was a rush of noise, of horns honking and kids shouting and strangers hugging in the streets. People danced in Harlem and wept at Ebenezer Baptist Church and lit candles at Dr. King's grave. More than a thousand people shouted "Yes we can!" outside the White House, where a century ago it was considered scandalous for a President to invite a black hero to lunch. The Secret Service said it had never seen anything like it. President Bush called the victory "awesome" when he phoned Obama to congratulate him: "You are about...

Author: /time Magazine | Title: How Obama Rewrote the Book | 11/5/2008 | See Source »

...example, the interviewer might approach every ninth voter. But this is a lot easier said than done when you are standing more than 40 feet outside of a busy polling place at rush hour. About half of the people approached decline to participate (a percentage that has been steadily rising over the past several decades...

Author: /time Magazine | Title: The Exit Polls: A Better Record This Time | 11/4/2008 | See Source »

...bill that will be presented to Congress this week, which would nationalize the private funds in which many Argentines keep their pensions - a move that should swing some $30 billion from private individual pension accounts into state coffers. The announcement sent Argentina's stock market plummeting, while the rush of depositors to convert their savings into dollars resulted in a 7% devaluation of the peso. The financial earthquake caused by the initiative has put the Argentine economy "in intensive care," says columnist Morales Sola...

Author: /time Magazine | Title: More Woes for Argentina's 'New Evita' | 11/4/2008 | See Source »

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