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...President Obama, in an interview on 60 Minutes, indicated that cooler heads were prevailing. Although he took pains to take AIG and Wall St.'s actions to task, he also suggested that the proposed bill from Congress would use the tax code to penalize a specific subset of people and would be contrary to good public policy. "Well, I think that - as a general proposition, you don't want to be passing laws that are just targeting a handful of individuals. You want to pass laws that have some broad applicability. And as a general proposition, I think you certainly...

Author: /time Magazine | Title: Why the People Who Broke the Financial System Will Profit | 3/25/2009 | See Source »

...exposed to, political risks may pose a greater threat because they are less susceptible to accurate forecasting. The furor over AIG bonuses demonstrates that the political attitudes of the administration and the legislature are subject to the vagaries of populist outrage. The proposed legislation to impose a tax of 90 percent on the retention bonuses received by AIG executives, currently before the Senate, calls the sanctity of private contracts into question. It demonstrates that the government may retroactively alter the terms of financing agreements between it and private companies. It is likely that these events may cause private investors...

Author: /time Magazine | Title: Why the People Who Broke the Financial System Will Profit | 3/25/2009 | See Source »

Which suggests a classroom technique for ADHD kids: Don't overly tax their working memory. Rapport, who used to be a school psychologist, says the average teacher doesn't understand how ADHD kids process information. "If you go into a typical classroom," he told me, "you might hear, 'Take out the book. Turn to page 23. Do items 1 through 8, but don't do 5.' And you've just given them four or five directions. The child with working-memory problems has dropped three of them, and so he's like, 'Page 23 - what I am supposed...

Author: /time Magazine | Title: Kids with ADHD May Learn Better by Fidgeting | 3/25/2009 | See Source »

...miscarriage of justice goes beyond the judges, Mark A. Ciavarella Jr. and Michael T. Conahan, who pleaded guilty on Feb. 12 to federal charges of wire and income tax fraud and face the prospect of more than seven years in prison. State and federal authorities are still investigating the case, and the owners of the detention center, PA Child Care, have not yet been charged. (The owner, Greg Zappala, says he didn't know anything improper was going on, while a former co-owner claims he was a victim of extortion by the judges.) What's more, many prosecutors, public...

Author: /time Magazine | Title: Getting the Juvenile-Justice System to Grow Up | 3/24/2009 | See Source »

...Apple. At the budget end of the scale, New York City's Apple Core Hotels is holding a lottery to offer 10 rooms at a special rate of $4.15, instead of the usual $125 rack rate. To enter the "Tax Time" lottery - which includes a room with complimentary breakfast, free Wi-Fi, gym and business center access, as well as in-room video games and movies on-demand - call the Apple Core Reservations Department by March 29 (you can't enter online). The drawing will be held March 30. Good for stays April 1 to 15. Participating hotels include...

Author: /time Magazine | Title: Fast Track to Elite: Double Air and Rail Miles | 3/23/2009 | See Source »

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