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...like Lehman, was ultimately done in by credit-rating agencies, of all things. The main credit raters - Moody's and Standard & Poor's - had blithely assigned top-drawer AAA and AA ratings to all sorts of hinky mortgage securities and other financial esoterica without understanding the risks involved. Would you know how to rate a collateralized loan obligation? Or commercial-mortgage-backed securities? Sophisticated investors took Moody's and S&P's word for it, and it turned out that the agencies didn't know what they were doing. Credit raters, who claim to offer only opinions, are party...

Author: /time Magazine | Title: How Financial Madness Overtook Wall Street | 9/18/2008 | See Source »

...chose to make a drastic reduction in maternal mortality one of the eight Millennium Development Goals (MDGS)--a series of targets in a program that channels aid to key issues, including education and clean water--to be met by 2015. The MDGS hold people "to a golden standard for progress," says Jamie Drummond, executive director of the antipoverty organization DATA. When world leaders gather in New York City this month to take stock of the MDGS, their speeches are likely to tout the many achievements since 2000: millions more African children now attend school and sleep under mosquito nets; thousands...

Author: /time Magazine | Title: Death in Birth | 9/18/2008 | See Source »

What would you write if you could write absolutely anything? This is the question that, as a reader, one imagined David Foster Wallace facing. Whereas ordinary authors resorted to the standard tricks of the trade--write what you know, look deep into your soul, whatever--Wallace seemed to have no earthly constraints. He knew everything and could look into anybody's soul he wanted to. Any writer in America would have killed for his talent, but the man to whom it belonged killed himself. On Sept. 12, Wallace's wife discovered his body at their home in Claremont, Calif...

Author: /time Magazine | Title: David Foster Wallace: The Death of a Genius | 9/18/2008 | See Source »

...difference in weight loss between the two groups? Campos notes that although the procedure is the same from patient to patient, doctors currently do not use a standard size when creating the new stomach sac. Instead, surgeons use anatomical landmarks unique to each patient to determine the size of his or her new, smaller stomach. But because the stomach lining remains elastic and flexible, sometimes the small stapled-off pouches simply balloon back to a larger size, which explains why 5% to 15% of people who get gastric bypass surgery often experience little or no weight loss...

Author: /time Magazine | Title: Gastric Bypass Surgery Less Helpful for Diabetics | 9/16/2008 | See Source »

...particularly vulnerable to the chemical, which is thought to interfere with development.) Critics note that the FDA's report relied on a small number of studies funded by industry groups that manufacture BPA, while the NTP took in a wider range of science. "The FDA says that their safety standard is that there must be reasonable certainty among competent scientists that a chemical is not harmful," says vom Saal. "So unless they declare the NTP scientists incompetent, something is wrong here...

Author: /time Magazine | Title: Concerns About Chemical in Plastics | 9/15/2008 | See Source »

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