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...banks not to collapse (as Lehman and Bear Stearns have) or be sold (à la Merrill Lynch), Goldman too has been pummeled. The firm's quarterly profit plunged 70% - results considered to be relatively good. While analysts generally believe that Goldman and Morgan Stanley will survive the meltdown, that view is not unanimous. Says doomster New York University economics professor Nouriel Roubini: "They will be gone in a matter of months as well. It's better if Goldman or Morgan Stanley find a buyer, because their business model is fundamentally flawed." Both firms would beg to disagree, but their stock...

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

...Petro-economies once seemed impervious to the American sub-prime mortgage mess. That view is reflected in a grim joke making its way around Wall Street and the City of London about the options left for laid-off bankers: "It's Dubai, Mumbai, Shanghai, or goodbye." But the reality may be even grimmer. In fact, Dubai and the other oil-enriched regions of the Arab world aren't quite the safe havens they once were. Western and Middle Eastern markets are more closely intertwined than they were during the 1970's oil boom. But recently, Arab exchanges have been...

Author: /time Magazine | Title: The Slump Hits the Gulf: No More Palm Islands? | 9/17/2008 | See Source »

...which, one hopes, will spark a fresh reappraisal of the work of the most misunderstood, and very likely best, playwright currently writing in English. That is far from a widespread view. In America, Ayckbourn is still typecast, anachronistically, as a lightweight boulevard farceur (the "British Neil Simon"), or simply as a clever deviser of staging gimmicks: plays that squeeze the action in several rooms into one space, or move backward in time, or fill up the stage with water, or (in his insanely ambitious Intimate Exchanges) have no fewer than 16 dramatic permutations, depending on which alternative action the characters...

Author: /time Magazine | Title: Alan Ayckbourn's Curtain Call | 9/17/2008 | See Source »

...prices are decent, not great, and the location is not great, but the fact that it’s open 24 hours is really appealing.” The Upper Crust Pizzeria 49b Brattle Street Open daily, 11 a.m.-11 p.m., delivery until 10:30 p.m. Within view of Market in the Square, Cambridge’s newest pizza joint serves up slices, specialty pies, salads, and calzones. With a cool modern interior, this small spot is great for grabbing a bite and watching a game in HDTV. Chief manager Rony Bonilla says, “Our concept in this...

Author: By Samantha L. Connolly and Elizabeth C. Pezza | Title: Finger Lickin' Good | 9/17/2008 | See Source »

...View a brief history of the Iraq war here...

Author: /time Magazine | Title: General Petraeus' Farewell: What He Leaves Behind in Iraq | 9/16/2008 | See Source »

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