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...year since the crisis, a number of academics have pretty much refuted nearly every one of those early explanations as being too specific. Some economists have even questioned whether there was a credit crunch. Economic professor René Stulz of Ohio State University, for one, has written papers trying to clear Wall Street pay and credit-default swaps of any blame. Despite recent apologies, Goldman Sachs executives, too, say that they are no more to blame than anyone else in the financial markets. (See high-end homes that won't sell...

Author: /time Magazine | Title: Hearings to Begin on Causes of Financial Crisis | 1/11/2010 | See Source »

...personal wrongdoing: "While I have learned from Spotlight for the first time some alleged aspects of my wife's affair and her financial arrangements, I will be resolutely defending attacks on my character and contesting any allegations of wrongdoing." But that hasn't stopped his opponents from pondering whether he'll continue to have a political future. Reg Empey, leader of the Ulster Unionist Party, has called for an investigation into the claims, describing the revelations as being of "deep concern to all those concerned with the integrity of political life and the democratic process." (Read "Belfast's Paisley Loses...

Author: /time Magazine | Title: Mrs. Robinson: Northern Ireland's Own Sex Scandal | 1/8/2010 | See Source »

...colleges given too much respect? Universities definitely get too much of a free pass. We have not gotten in the habit of asking hard questions about whether or not universities are doing a good job of teaching their students. Some of them are. There are fantastic universities, fantastic departments, fantastic programs, but there are also terrible universities, terrible departments, terrible programs. And the great fiction is that there are none of the latter. Listen to the way that we talk to students about the admissions process. Even as they compete for the best students, schools say, "It's all about...

Author: /time Magazine | Title: Holding Colleges Accountable: Is Success Measurable? | 1/7/2010 | See Source »

...partisanship hasn't stopped with the issue of security. The decision on Wednesday by a federal grand jury in Michigan to return a six-count indictment against Abdulmutallab might ordinarily have been a routine step in a criminal prosecution. But it has only stoked the debate over whether Abdulmutallab should have instead been handed over to the military. (See pictures of Umar Farouk Abdulmutallab...

Author: /time Magazine | Title: How Should America Try Terror Suspects? | 1/7/2010 | See Source »

...brought in district court in Washington. Earlier last year, a Yemeni won his case and was repatriated and released. The Defense Department said it was comfortable releasing the six, as were the other departments, so in the end, Obama's national-security team sent them home. It is unclear whether they remain incarcerated in Yemen. (See pictures of the last days of Gitmo...

Author: /time Magazine | Title: Obama's Dilemma: What to Do with Yemenis in Gitmo | 1/7/2010 | See Source »

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