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...problem is, now that this market has collapsed, figuring out who owns all this worthless paper. Think that's easy? Two weeks ago, no less than the CEO of BNP Paribas, the big French bank, said, in effect, no worries, folks. Its exposure to this stuff was, as he put it, "negligible." Yet last week, BNP had to shut down three of its own investment funds because of its exposure to investments linked to the subprime debacle. When the CEO doesn't know, that is the very definition of "not knowing what we don't know...

Author: /time Magazine | Title: Markets Rebound but Crisis Not Over | 8/13/2007 | See Source »

...always loved to lecture," says a friend and colleague from the White House. Will he get back into the political fray, perhaps by advising the 2008 Republican nominee? "I'm inclined to doubt it," says a source close to Rove. "But with Karl you never know. He loves this stuff. It'll be hard for him to stay away. Politics is in his blood...

Author: /time Magazine | Title: Karl Rove's Flawed Vision | 8/13/2007 | See Source »

...view of Paris (and of the romantic impulse) is less than enchanted. She has already appeared in (and co-written one of) a pair of Paris romances - Before Sunset and Before Sunrise - which were pretty enough, but also not exactly ga-ga when it came to the love stuff. So this new movie's attitude does not come as a complete surprise...

Author: /time Magazine | Title: Paris Not for Lovers | 8/10/2007 | See Source »

...Inside a Political Machine As Joe Klein writes in "the bran-muffin Candidate," Senator Hillary Clinton is not the most charming presidential hopeful, but she knows her stuff [Aug 6] Increasingly, Americans are sensing that a seriousness of purpose may be the tonic to help this nation recover domestically and internationally. Jane Doyle, Altoona, Pennsylvania...

Author: /time Magazine | Title: Inbox | 8/10/2007 | See Source »

...people instead of undertaking boring repairs that no one notices until disaster strikes. "Cities and states have been sinking millions of dollars into convention centers, stadiums--anything that shines," says Christopher Swope, an editor at Governing magazine, who covers transportation. "At the same time, they're neglecting the stuff that's not so sexy. You don't have a groundbreaking when you do repair work on an old bridge...

Author: /time Magazine | Title: We've Come Undone | 8/9/2007 | See Source »

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