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...mere $70 million of those toxic mortgage-backed securities that doomed banks in the U.S., while the central bank was well stocked with $240 billion of hard-currency reserves - more than sufficient, economists believed, to protect the economy from any external shocks. "We didn't need a special spotlight," says Yi Jong Goo, standing commissioner at the Financial Services Commission (FSC), the government agency that oversees the country's finance industry. They got one anyway. International bankers and investors yanked money from emerging markets worldwide. South Korea's banks rely more on external financing than most others in the region...

Author: /time Magazine | Title: A Depressed Mood | 11/13/2008 | See Source »

...Shield winds down, the social trade-offs have yielded the spotlight to the personal ones. From the start, Mackey rationalized his thieving in the name of his kids. The idea--the same big lie that justifies a million little compromises in ordinary lives--was that he could insulate his kin from the consequences of his actions, taking the moral bullet for them...

Author: /time Magazine | Title: A Fitting End for The Shield | 11/13/2008 | See Source »

Last year, after the verbal commitments by incoming freshmen gave the Harvard men’s basketball team a recruiting class that ranked in the top 25 in the nation, Crimson coach Tommy Amaker spent some time in the Ivy League spotlight. After the dust settled and letters of intent were signed, Harvard lost arguably its top recruit, center Frank Ben-Eze, but managed to haul in a top-flight freshman class nonetheless. While the Crimson will be led by three veteran seniors and a few experienced juniors, youth will be a big theme this year, as the team sports...

Author: By Paul T. Hedrick, CRIMSON STAFF WRITER | Title: BASKETBALL '08 SUPPLEMENT: Youth is Served | 11/13/2008 | See Source »

...Republican Party’s first woman ever on a presidential ticket, the stakes for Palin were high. Just as Sen. Barack Obama was held to an elevated standard as the first African-American candidate to approach the presidency, all eyes turned to Palin as she entered the spotlight. The result was disappointing—and quite terrifying...

Author: By Claire M. Guehenno | Title: Forgetting Sarah Palin | 11/12/2008 | See Source »

...help. America’s most formidable rival has been flexing its muscle lately, first in Georgia and perhaps soon in Ukraine. The Russian economy may stand on shaky foundations, but the government of President Dmitry Medvedev and Prime Minister Vladimir Putin has developed a taste for the international spotlight. Despite the Russian president’s tough stance on the U.S. in his state-of-the-country address the morning after Obama’s election, the Kremlin described the first Obama-Medvedev talk on Saturday as a “constructive and positive interaction,” whatever...

Author: By Pierpaolo Barbieri | Title: What to Expect... | 11/12/2008 | See Source »

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