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...Corp., and enacted all manner of other game-changing financial reforms. It's not just that the Obama reforms are less ambitious than those of the Great Depression. They're also inspired by a very different interpretation of what went wrong. In the 1930s the overarching idea was that Wall Street had been very naughty and needed to be put in the penalty box - for good. This time the animating spirit behind the changes seems to be that regulators let a lot of things slip through the cracks, so there's a need both to give them some new tools...

Author: /time Magazine | Title: Is Obama's Financial-Reform Plan Bold Enough? | 6/18/2009 | See Source »

...heard the Shostakovich violin concerto with [Russian violinist] David Oistrakh at its premiere in 1956 at Carnegie Hall. It was an amazing sound. A high point for me was doing the Freedom Concert in East Berlin, when we did Beethoven's Ninth Symphony on Christmas morning in 1989. The wall was coming down, and Leonard Bernstein changed the German text in the Ode to Joy from "joy" to "freedom." It was a very moving experience. You heard hammers and pickaxes from the concert hall...

Author: /time Magazine | Title: Six Decades at the New York Philharmonic | 6/17/2009 | See Source »

After a 40% rally in the S&P 500 off its March market lows, Wall Street strategists had been expecting a market pullback, or consolidation, as part of an orderly advance. But investors are also increasingly anxious that stocks have risen too far and too fast relative to prospective earnings. Even after the decline on June 16, stocks still sell at more than 20 times their expected earnings for 2009 - far from cheap. (See pictures of scared traders...

Author: /time Magazine | Title: A Stock-Market Pullback: Is the Recovery Stalling? | 6/16/2009 | See Source »

...spent nearly three weeks in Iran over the winter, talking to clerics, students, street laborers and professionals. People's anger and despair over Ahmadinejad's mismanagement of the economy pulsed throughout Tehran. People were not just discontent; they were punching-the-wall furious. Dismissing opposition to Ahmadinejad as a north Tehran phenomenon, limited only to affluent urban areas, is insulting to the millions of middle-class Iranians who have suffered the most under his tenure. As a rule, affluent Iranians aren't much affected by high inflation and unemployment. As the foreclosure crisis in the U.S. has shown...

Author: /time Magazine | Title: Even in a Tainted Election, Voting Still Matters | 6/16/2009 | See Source »

...Iran_hotspot car exploded when it hit the wall of the dorm house next to mine don't know whos injured or who crashed...

Author: /time Magazine | Title: Latest Tweets on Fallout from Iran's Election | 6/15/2009 | See Source »

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