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...Economists and international financial experts are left to answer an extremely difficult question. Does it matter if other large nations employ similar tactics to the U.S. in reviving their economies? Or, is a coordination of efforts not important to the pace of a global recovery. If Germany refuses to make more than a modest effort to help its banks and major industries while the U.S. is going "all in" with every dime it can spare to help housing, banks, and jobs creation, does the imbalance between the scales of the efforts make a difference...

Author: /time Magazine | Title: Why Europe's Criticism of the Stimulus Got Out of Hand | 3/26/2009 | See Source »

Once some banks do sell, though, it could force a widespread, and revealing, revaluation of similar assets on every bank's books. The banks have been asking regulators and accountants for, and getting, relief from having to mark some of their assets to market prices because the markets for many debt securities are so clearly broken. But the prices prevailing in a smoothly functioning government-subsidized market will be hard to ignore. This has led to speculation in the economics blogosphere that banks might game the program by conniving with investors to overbid for assets. That's not inconceivable...

Author: /time Magazine | Title: Separating Toxic Assets from Legacy Assets | 3/26/2009 | See Source »

...adept at just one kind of punch. A few of these two-to-three-minute wraths ("Louie" and "I Like You So Much Better When You're Naked") are tuneful enough to stick with you, but they don't do much emotionally, and they all end up feeling numbingly similar, like fury masquerading as fun. As the album chugs on, it becomes clear that Maria hasn't quite figured out what she'd like to say to the world--"I know I'm always drunk as drunk as can be" is a fairly representative lyric--only the manner in which...

Author: /time Magazine | Title: Banshees | 3/26/2009 | See Source »

...kids whose parents are in financial distress, with a live-in faculty rivaling those of élite New England prep schools. His proposal is at the forefront of a broader national trend: from New Jersey to Wisconsin to California, school districts and private investors are developing similar projects. Supporters hope that U.S. Education Secretary Arne Duncan, who pushed for public boarding schools as CEO of Chicago's school system, will give the programs even greater traction. (See pictures of public boarding schools...

Author: /time Magazine | Title: What Public Boarding Schools Teach Us | 3/26/2009 | See Source »

...past two centuries, a key to national prosperity and power was the extraordinary physical scale of our land, our population, our natural resources. China has similar advantages today, and partly because we have already been there and done that, paving the way, it has been able to develop in fast motion, cramming 100 years of development into 30. But I'm reminded of Philip Johnson's apt, bitchy description of Frank Lloyd Wright during the forward looking 1930s "as the greatest architect of the 19th century." Twenty-first century China is the greatest country of the 20th century. Muscular industrialism...

Author: /time Magazine | Title: The End of Excess: Is This Crisis Good for America? | 3/26/2009 | See Source »

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