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Well, yeah, except that Goldman and JPMorgan played right along with many of the Wall Street practices that led to the crisis. They fought regulation - of derivatives, for instance - that might have prevented it. And their big profits can be traced not only to skill but also to the government's decision last fall to bail out the financial sector just as the troubles that toppled Lehman Brothers and WaMu and forced Bear Stearns, Merrill Lynch and Wachovia into shotgun marriages began to endanger Goldman and (to a lesser extent) JPMorgan. "No one should be confused about the extent...

Author: /time Magazine | Title: Too Much Profit at Goldman and Morgan? | 7/27/2009 | See Source »

...many people, the concept of a legalized market for human organs is repugnant. "Payments eventually result in the exploitation of the individual," Francis Delmonico, a Harvard University professor, told the Wall Street Journal in 2007. "It's the poor person who sells." But Matas disagrees, noting that compensating kidney donors is no different from sanctioning sales of other body parts. "People get paid to be surrogate mothers. People get paid for sperm and hair," he says. "People say, 'Oh, those are safe and replenishable, but egg donation and surrogacy are risky, and yet they're legal.'" A legal market...

Author: /time Magazine | Title: How Does Kidney-Trafficking Work? | 7/27/2009 | See Source »

...Italian architecture. Outside, there are four or five guards milling around in the driveway. Former President Boris Yeltsin once lived beyond the trees on the other side of a nearby tennis court, now covered in snow. A black BMW with tinted windows, its engine running, sits next to a wall that wraps around the compound. Lebedev, 49, dressed in jeans and a white button-down shirt and black vest, is sporting his signature glasses with rectangular lenses. He has tousled gray hair and a mostly English accent that sounds carefully studied, because that's exactly what...

Author: /time Magazine | Title: Alexander Lebedev: Rich Advice | 7/27/2009 | See Source »

...delighted to see that 1989 was the subject of your recent issue, but I was disappointed that Poland's role in bringing about the end of communism in Central and Eastern Europe was almost completely ignored [June 29]. The fall of the Berlin Wall, albeit a very striking and photogenic event, had an entire article devoted to it, whereas the event that made it possible, the June 4 election in Poland, was only very briefly mentioned. The start of it all was the work of the Solidarity trade union, which by 1989 had been operating for a decade...

Author: /time Magazine | Title: The Legacy of 1989 | 7/27/2009 | See Source »

...fall of the Berlin Wall 20 years ago, I pray that the world can force Israel to demolish the wall of hate it has erected illegally. That wall, and Israel's illegal settlements, are making a peaceful resolution of the Israeli-Palestinian conflict virtually impossible. You recollect that President Reagan famously urged Moscow to "tear down this wall." It is high time for President Obama and Western leaders to say exactly those same words to Israel - and to impose sanctions if it doesn't comply. Samir Hawa, PRANGINS, SWITZERLAND...

Author: /time Magazine | Title: The Legacy of 1989 | 7/27/2009 | See Source »

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