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...worked for banks, because mere rumors that a bank is headed for failure can drive it under. That's why Congress long ago created a separate regulatory system and reorganization process for banks, with the Fed and the fdic at the center. Over the past quarter-century, though, a "shadow banking system" of investment firms, hedge funds and derivatives dealers grew up that was subject to the same risks as banks but not the same rules. In September, Lehman Brothers, a major cog in this system, filed for Chapter 11. In one sense the process worked as designed--much...

Author: /time Magazine | Title: Don't Call It Bankruptcy | 11/20/2008 | See Source »

Aside from Gordon-Reid, the winners of the night were Judy Blundell, who claimed the prize for young people’s literature; Peter Matthieson, whose book “Shadow Country” won in the fiction category, and Mark Doty, who won the award for poetry...

Author: By Betsy L. Mead, CRIMSON STAFF WRITER | Title: Faust’s Civil War Book Falters in Quest for Non-Fiction National Book Award | 11/20/2008 | See Source »

...scrambler, so I think NFL teams are very interested.”Work began over the summer with extra workouts and extra calories. For the 6’1, 175-pound Berry, it’s been adding weight to a slender frame that might get lost in the shadow of a pro defensive back. And for the NFL-sized, 6’5, 225-pound Pizzotti, the summer meant more focused workouts on the things scouts typically look for, such as arm strength and mobility. This fall it’s been interacting with scouts while concentrating...

Author: By Madeleine I. Shapiro, CRIMSON STAFF WRITER | Title: THE GAME '08: Making the Bigs | 11/20/2008 | See Source »

This week's summit is a test of whether Tibetans are ready to step out from under His Holiness's shadow. The Dalai Lama is not attending any of the talks, nor has he appointed anyone in the Tibetan parliament-in-exile's leadership to direct them. Instead, all the summit delegates - regional Tibetan community representatives, members of parliament, youth leaders, independence activists and other NGOs - were divided into about 15 groups by choosing numbers at random on the first day of the talks. They have split up in the various government buildings scattered around Macleodganj, where the Dalai Lama...

Author: /time Magazine | Title: The Tibetans: How to Set Up a Democracy in Exile | 11/20/2008 | See Source »

...have as large an impact on book sales as the Pulitzer Prize or Oprah's seal of approval, but the honor remains highly sought after nonetheless. This year's finalists include Drew Gilpin Faust's This Republic of Suffering: Death and the American Civil War, Peter Matthiessen's controversial Shadow Country, which came under fire for being a re-written compilation of three novels that he wrote in the 90s and Patricia Smith's collection of poems Blood Dazzler, which describe New Orleans before, during and after Hurricane Katrina. With 1,258 books submitted from more than 200 publishers (nonfiction...

Author: /time Magazine | Title: The National Book Awards | 11/19/2008 | See Source »

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