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...hedge funds are hit increasingly hard by margin calls and shareholder redemptions, forcing them to sell investments to raise cash. Yet amid the panic, Weiss admits he's turning bullish: "People are freaking out, and it's a good time to make money when everybody is freaking out." One shell-shocked area where he's finding extraordinary bargains: illiquid funds with troubled investments in property. "You might very well lose all your money," says Weiss, "but there's a chance of making enormous returns...

Author: /time Magazine | Title: One Financial Doomsayer Sees More Doom Ahead | 10/8/2008 | See Source »

...race cars, and after he took this rare Porsche I owned for a drive, he began to get into racing. He had incredible reflexes, and he got really good, but he talked so much about it that I got sick of it. So I had a beaten-up Porsche shell delivered to his porch for his 50th birthday. He never said anything, but not long after, I found a crate of molten metal delivered to the living room of my (rented) house. It dented the floor. I then had it turned into a really ugly sculpture and dropped into...

Author: /time Magazine | Title: Robert Redford Remembers Paul Newman | 10/2/2008 | See Source »

...While most of the GOP conference didn't want to vote for the bill, they also did not believe their leaders would let it fail. Some members emerged from the vote shell-shocked and blamed Boehner for not twisting more arms. "Conclusion: the leadership needs to work the votes and get it done. It was disappointing," says Representative George Radonovich of California, the only Republican who switched his vote from no to yes during the vote. Boehner's initial clumsy attempt to blame the bill's defeat in part on House Speaker Nancy Pelosi's partisan speech before the vote...

Author: /time Magazine | Title: The Bailout Spotlight Returns to the House — and John Boehner | 10/2/2008 | See Source »

...After the establishment of the state of Israel and the ensuing Arab-Israeli War of 1948-9, the Golan Heights once again became the site of tumultuous border clashes. Syria took advantage of the area's mountainous terrain and high vantage points to shell the Israeli border below while Israel attempted to occupy and control the demilitarized areas and divert the Golan Heights' freshwater supply from the Jordan River for its own uses...

Author: /time Magazine | Title: The Golan Heights | 9/30/2008 | See Source »

...hard to take Hollywood's greens altogether seriously - gee, if only we could all afford to shell out $22,000 for a shiny new hybrid - but Bochner's got a point: the nation does watch Hollywood. The TV and film industry tends to be on the cutting edge of social change, from civil rights to the war in Iraq, and that's true when it comes to the environment as well. From films like An Inconvenient Truth to high-profile attempts at carbon neutrality (by the Fox drama 24 last year), Hollywood is working to set the bar higher...

Author: /time Magazine | Title: The Greenest Celebrity in Hollywood | 9/29/2008 | See Source »

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