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...WILL OTHERS FOLLOW SUIT? Mark Chopko, general counsel for the U.S. Conference of Catholic Bishops, calls the bankruptcy an "act of desperation," though one a "handful" of dioceses might consider. They might be wise to hang back awhile. True, Portland may rationalize its debt, keep discussion of its sins to a relative minimum and set a limit on future claims against old offenses--in other words, extract itself from the nightmare still facing other dioceses. But the hearings could also become high theater, the diocese's fiscal and administrative exposure could breed further investigation, and a loss on the parish...

Author: /time Magazine | Title: Chapter 11, Verse 1 | 7/19/2004 | See Source »

...Bill Clinton has only himself to blame for his tarnished legacy. He was an intelligent President, but he wasn't wise. This has cost him the respect of many Americans. The moral of this story is: Tell the truth, no matter what! Boll Von Boll Toronto...

Author: /time Magazine | Title: Letters | 7/18/2004 | See Source »

...movie version. Yes, we will cry real tears for Bill Clinton at his funeral. He is our family; he is us. Preston Foster Princeton, New Jersey, U.S. Bill Clinton has only himself to blame for his tarnished legacy. He was an intelligent President, but he wasn't wise. This has cost him the respect of many Americans. The moral of this story is, Tell the truth, no matter what! Boll Von Boll Toronto I very much liked Clinton's statement that "we should be trying to build alliances and acting with others whenever we can and acting alone only when...

Author: /time Magazine | Title: Letters | 7/18/2004 | See Source »

...everyone agrees with the calculations, but his paper nonetheless stirred up a flurry of imitators. The opposition Christian Democrats as well as the Free Democrats have both since published their own tax-simplification plans. And most significantly, the German government's own Council of Economic Experts, nicknamed "the Five Wise Men," last November attacked German tax rules as "chaotic" and proposed a comprehensive fiscal overhaul that would cut the top rate for income tax to about 35%. To help pay for the cuts, the Wise Men proposed eliminating €25 billion of annual tax breaks. Another common complaint about European...

Author: /time Magazine | Title: Escape From Tax Hell | 7/11/2004 | See Source »

...sometimes, as a wise boss told me, we need a change even more than a rest. There has to be a reason why people devote their precious two weeks of repose to sweaty hikes through Mayan ruins or intensive courses in power knitting. It could be that the most refreshing break of all is to think about nothing familiar for a while, go someplace strange and learn something new, forget who you are during the rest of the year. Maybe the perfect summer is one that makes room for both, for accidents and adventures and long drives with no maps...

Author: /time Magazine | Title: Made Your July 1 Resolutions? | 7/5/2004 | See Source »

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