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...corporate bonds. After all, the last few stress-free years have not exactly provided much of a testing ground for what can go wrong - until, that is, subprime mortgages started their death march. Suddenly, investors realized things can actually head south in a big way, even stuff completely unrelated to CDOs. Like your stocks...

Author: /time Magazine | Title: Blowing up the Lab on Wall Street | 8/16/2007 | See Source »

...Naturally, as it sells, prices drop. The falling prices mean a further decline in the fund's collateral, forcing yet more selling. And so goes the downward cycle. Hedge funds that hold the toxic CDOs can easily undermine those that don't. It can be difficult to sell the stuff that's causing the problem; those markets are beyond redemption. So if you can't sell what you want to sell, you sell what you can sell. The fund looks at its other holdings, focusing on the more liquid positions and reduces its exposure there. This causes pressure on these...

Author: /time Magazine | Title: Blowing up the Lab on Wall Street | 8/16/2007 | See Source »

...unlikely marriage of motives. Ad-supported TV is a consumption medium: it persuades you to want and buy stuff. Traditional home shows about renovating and decorating are catnip for retailers like Lowe's and Home Depot. Of course, there are green alternatives to common purchases: renewable wood, Energy Star appliances, hybrid cars. But sometimes the greener choice is simply not to buy so much junk--not the friendliest sell to advertisers...

Author: /time Magazine | Title: Green Screens | 8/16/2007 | See Source »

...this "Death to Israel" stuff is of a piece with normal Hizballah propaganda. But what's different about the Spider Web museum as a whole is the macho, bragging tone. Hizballah was once famous for being one of the few Arab organizations that let its actions speak louder than words. The swagger shown since last summer is both a sign of newfound confidence, and of weakness. For though Hizballah may have won the war against Israel, it has not yet won the peace...

Author: /time Magazine | Title: Inside the Hizballah Museum | 8/15/2007 | See Source »

...despite ethical qualms - which have prompted some chefs to renounce it altogether - rich Londoners can't seem to get enough of the black stuff. Stuart Lyall, head chef of the Fishmarket restaurant sums up its status allure: "Demand for beluga, our top seller, is still very high... people have not been deterred from ordering it. It's still a very decadent choice...

Author: /time Magazine | Title: Caviar, Off the Back of a Truck | 8/13/2007 | See Source »

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