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...Sweden's financial crisis in the early 1990s stemmed from a 1985 deregulation of credit markets, which set the stage for overexpansion and bubbles in the real estate and finance markets. When those bubbles burst in the early 1990s, Sweden's currency crumbled and interest rates spiked to 500% overnight. Of the country's seven biggest banks, five needed either government bailouts or big injections of money from shareholders. The value of the country's real estate market plunged 50-60% in 18 months. "The whole Swedish banking system was off-balance," Lundgren recalls...

Author: /time Magazine | Title: Sweden's Model Approach to Financial Disaster | 9/24/2008 | See Source »

...solution is simpler, and far better, I think: it lets you know what your friends are listening to. Like Facebook, MySpace has a news feed, which figures out which of your friends interests you most and communicates their doings to you. So, if my musician brother Seth Augustus (a stage name) adds an interesting tune to his playlist, my news feed will report that. I can even subscribe to his playlists...

Author: /time Magazine | Title: MySpace Launches a Free-Music Revolution | 9/24/2008 | See Source »

British playwright Alan Ayckbourn has long been the theater's champion daredevil, a man who never saw a stage stunt he wouldn't tackle. One of his early works, The Norman Conquests, was a cycle of three plays that recounted the events of a weekend from three different parts of the same house. One Ayckbourn play moves backward in time. Another conflates all the action in a house, from living room to attic, into a single stage space. His ingenious, nearly unstageable Intimate Exchanges has 16 permutations, depending on the choices made by characters at key points in the action...

Author: /time Magazine | Title: Is Alan Ayckbourn Our Best Living Playwright? | 9/24/2008 | See Source »

...actual quarterback. However, with a little luck, we could have watched Appalachian State’s Armanti Edwards marshal Harvard’s offense. The Heisman dark horse was recruited by Harvard, but he ultimately decided to spurn the Crimson for the chance to play on a slightly larger stage as a Mountaineer...

Author: By Timothy J. Walsh, CRIMSON STAFF WRITER | Title: ANOTHER BRICK IN THE WALSH: Revising The Past For the Crimson | 9/23/2008 | See Source »

...Sept. 23, the foundation minted 25 new Fellows, who were each awarded $500,000 grants doled out over five years, with no strings attached or reporting obligations. The recipients include stage lighting designer Jennifer Tipton, geriatrician Diane Meier and urban farmer Will Allen. This diversity is a hallmark of the program, which, according to the foundation's president, Jonathan Fanton, strives to bestow financial freedom - and the considerable prestige that accompanies the award - to creative individuals on the cusp of greatness. "These are people at the very edge of discovery, people who are redefining what's possible," says Fanton. "They...

Author: /time Magazine | Title: The 'Genius' Grant | 9/23/2008 | See Source »

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