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...quickly and simultaneously on several fronts. They can draw on the money that will flow in from East Timor's offshore oil reserves to create a New Deal kind of job corps for former fighters and young gang members. They should implement an aggressive demobilization program. They should rapidly shore up East Timor's institutions by reducing the use of Portuguese and recruiting international judges and lawyers for the courts. Only then can there be real peace. And only then will East Timor be truly independent...

Author: /time Magazine | Title: Warning Shot | 2/21/2008 | See Source »

...lead to a loss of confidence throughout the banking system, with potentially devastating consequences for the rest of the economy. For this reason, central banks must stand ready, in the case of a potential systemic risk of this kind, to step in as lender of last resort to shore up the failed bank until the crisis can be resolved. In return, banks have to submit to a degree of official supervision unknown to other businesses in a market economy...

Author: /time Magazine | Title: Failure After Failure | 2/21/2008 | See Source »

...Tony Benn, longtime Laborite leftist and prime architect of the party's disastrous manifesto, planned to make a run, but his unexpected loss last week knocked him out of the race. Among the remaining moderates, the leading contenders are Roy Hattersley, Labor's spokesman for domestic affairs, and Peter Shore, shadow Chancellor of the Exchequer. Hattersley, who helped negotiate Britain's entry into the Common Market, surprised many by not breaking away to join the S.D.P. Nonetheless, he has made it clear he is at odds with Labor's manifesto; for example, he opposes unilateral disarmament and would keep Britain...

Author: /time Magazine | Title: Thatcher Triumphant | 2/18/2008 | See Source »

While much of the money is intended to shore up the Commonwealth’s position as a center for biotechnology, a significant share of the funding is expected to be used for stem cell research at universities like Harvard and the University of Massachusetts...

Author: By Athena Y. Jiang, CRIMSON STAFF WRITER | Title: State To Fund Bio Research | 2/14/2008 | See Source »

...club boom of the 1980s. All of which was part of laying the groundwork for a culture in which comedians turned TV hosts help set the national agenda and have would-be Presidents as guests. Letterman and Leno may look more like management than labor these days - more Mitzi Shore than strikers. But they haven't forgotten the old grievances. They know all the lines...

Author: /time Magazine | Title: The First Comedy Strike | 2/4/2008 | See Source »

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