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Nowhere was that more true than in the ill-conceived investment to turn the twinned 11,000-unit middle-class housing complex known as Stuyvesant Town and Peter Cooper Village, built originally to accommodate World War II veterans, into luxury housing, for which limits on yearly rent increases are chucked in favor or whatever the market will bear. The prospectus offered by the lead investors, Tishman Speyer and Larry Fink's asset-management fund BlackRock, imagined evicting 50% of rent-regulated tenants in just a few years. But tenants fought back and won in a court decision that also undercut...

Author: /time Magazine | Title: Should Private Equity Invest in Residential Real Estate? | 1/20/2010 | See Source »

...apparent lack of curiosity into what allegedly drove Hasan to kill isn't in keeping with the military's ethos; it's a remarkable omission for the U.S. armed forces, whose young officers are often ordered to read Sun Tzu's The Art of War with its command to know your enemy. In midcareer, they study the contrast between capabilities and intentions, which is why they aren't afraid of a British nuclear weapon but do fear the prospect of Iran getting...

Author: /time Magazine | Title: The Fort Hood Report: Why No Mention of Islam? | 1/20/2010 | See Source »

...Modernist architecture in the desert reflected the interest in new technology after World War II, and materials like glass, steel and concrete block used in construction were integral to the design of a building," explains Sidney Williams, daughter-in-law of E. Stewart Williams and curator of architecture and design at the Palm Springs Art Museum. "The city was an ideal laboratory because of the climate and the use of indoor and outdoor space. And because people had their second homes here, they were more open to being experimental with them...

Author: /time Magazine | Title: People Who Live in Glass Houses | 1/20/2010 | See Source »

...Japanese officials with the power to investigate any criminal offense. Takao Toshikawa, editor of political newsletter Tokyo Insideline, says that Ozawa and his mentors have been fighting various battles with the office since the late 1970s. "At this moment, the Prosecutors Office and Ozawa are fighting the final war," says Toshikawa. (See pictures of Japan in the 1980s and today...

Author: /time Magazine | Title: New Scandal Hits Japan's Ruling Party | 1/20/2010 | See Source »

Most Sunnis boycotted the last election, only to find themselves shut out of the country's subsequent political process while politicians with ties to Shi'ite militant groups took important posts. Civil war ensued after Shi'ite hard-liners sought payback for the years of oppression under Saddam's Sunni-dominated regime, while Sunni hard-liners took up arms against the new government. Luring Sunni parties back into politics was one of the cornerstones of the successful realignment of American policy toward Iraq, one that was reinforced by the surge of American forces in Baghdad. It led to a steady...

Author: /time Magazine | Title: Could a Sunni Candidates Ban Imperil Iraq's Election? | 1/19/2010 | See Source »

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