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...even consulted third parties, such as the Depository Trust Company (DTC, a special-purpose bank used by securities firms), to verify trades, the scandal would have been uncovered. For example, a January 2005 statement for a Madoff feeder-fund account indicated it held $2.5 billion of S&P 100 equities on Jan. 31, 2005. However, DTC records show Madoff held less than $18 million worth of S&P 100 equities in his DTC account...

Author: /time Magazine | Title: SEC Internal Review Cites Multiple Failures on Madoff | 9/2/2009 | See Source »

...delegates from more than 150 nations are meeting to craft a better global alert system for climate change. That means disseminating information down to the local level - how global warming could impact fisheries, farming, human health, even tourism. "What we need is a formal system that all people can trust to access vital information that can save their lives and protect property and economies," said Michel Jarraud, secretary general of the World Meteorological Organization. "It's not only governments, it's the private sector, it's individuals, it's farmers - everyone who has to make a decision that is affected...

Author: /time Magazine | Title: In Geneva, Designing a Global Climate-Alert System | 9/2/2009 | See Source »

Catherine Mayer's commendable article takes up the issue of the far right and how it is splitting societies in Europe [Aug. 10]. Unfortunately, by describing this development as "feeding off the economic crisis and the loss of trust in mainstream parties," she is missing the point. Phenomena such as xenophobia and fascism have historic roots and surface regularly with the help of opportunistic politicians. Unfortunately, the European media is as guilty as politicians - far-right or mainstream - for instigating and giving extensive coverage to racist parties under freedom of expression rules and with no regard for the protection...

Author: /time Magazine | Title: Right to Worry? | 8/31/2009 | See Source »

...clear that our health-care system needs improvement, but many average Americans do not trust the government to do the job. A large part of the reason may be that what Congress designs for us is guaranteed to be, as with Social Security and retirement plans, vastly inferior to what they create for - and bestow upon - themselves. Kenneth Solnit, Cupertino, Calif...

Author: /time Magazine | Title: Inbox | 8/31/2009 | See Source »

...will help millions of folks. Above all, we should not forget the historical moment. We’re at a turning point, and if we end the saloon-style sideshows we can make sure a new era for the American people—and a new era for trust in government as a force for good—arrives with a bang and not a whimper...

Author: By Raúl A. Carrillo | Title: It’s High Noon in America | 8/31/2009 | See Source »

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