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...passive investor. It wouldn't take any board seats, and it wouldn't actively seek to influence how the banks were being run. It doesn't have to; Treasury has regulatory control over the banking system anyway. Harvey has proposed that the government set up an investment vehicle similar to the Resolution Trust Corporation that rode to the rescue following the savings-and-loan crisis in the 1980s...

Author: /time Magazine | Title: Will Paulson's Bank Plan Finally Unfreeze Credit? | 10/9/2008 | See Source »

...Italy to Paris on Oct. 4, German Chancellor Angela Merkel coolly torpedoed his proposed $409 billion Europe-wide financial rescue plan. No money for the greedy fools of other lands, she seemed to say, only to then guarantee German private bank accounts and save Hypo Real Estate. That followed similar moves by Ireland and Greece. And Britain's Gordon Brown will always be loath to see Brussels lay its regulatory hand on London's City; 
 his recapitalization of Britain's banking sector was no less unilateral than Merkel's actions...

Author: /time Magazine | Title: Gloat at Your Peril | 10/9/2008 | See Source »

...amygdala--a region that processes alarm--when shown images of black faces than when shown images of white faces. "One of the amygdala's critical functions is fear-conditioning," says Phelps. "You attend to things that are scary because that's essential for survival." Later studies have shown similar results when black subjects look at white faces...

Author: /time Magazine | Title: Race and the Brain | 10/9/2008 | See Source »

...Congressional delegates warning that without government help, some schools would be unable to fulfill their payroll responsibilities this week. "Any further delay by Congress or the administration," they wrote, "will have immediate devastating effects on these institutions and the families they serve." The American Council on Education sent a similar plea to every member of the House of Representatives...

Author: /time Magazine | Title: Colleges Getting Hit by the Credit Crunch | 10/8/2008 | See Source »

...reported five crimes a day, none were reported during a week-long trial run, prompting a local homeowners' association to raise $26,000 to help fund the operation for the rest of the year. And Britain's Home Secretary, Jacqui Smith, urged police forces across the U.K. to adopt similar programs...

Author: /time Magazine | Title: Who's Afraid of the Bad-Boy Cops? | 10/8/2008 | See Source »

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