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...America's first insider-trading scandal took place shortly after the nation's birth; a former Assistant Treasury Secretary named William Duer capitalized on his government connections to make bets on the country's debt. His investments eventually soured, however, and Duer's bankruptcy brought down much of New York's economy in 1792; he died a few years later in debtors' prison. (The charter members of the Buttonwood Group, the predecessor of the New York Stock Exchange, first assembled to formulate a response to that market crash.) Nineteenth century railroad magnate Jay Gould didn't try to hide...

Author: /time Magazine | Title: Insider Trading | 11/9/2009 | See Source »

Here are a few observations from a New York outsider. In the first weekend after Halloween, and with the spine-numbing pleasure of Paranormal Activity in many moviegoers' minds, The Fourth Kind benefitted from a beguilingly creepy ad campaign, giving glimpses of alien possession. Audiences didn't feel the same urgency, seven weeks before Christmas, to see the 467th version of A Christmas Carol, whose trailer emphasized hectic, hurtful chase scenes over the Scroogean character comedy and hearth-and-heart sentiment. As for Precious, $100,000 a screen is a feat accomplished only twice before (by Dreamgirls and Brokeback Mountain...

Author: /time Magazine | Title: A Christmas Carol Wins — and Loses — the Weekend | 11/8/2009 | See Source »

...have pointed out that I have made a mistake. I made a mistake in not clearing him effectively enough." - Rudy Giuliani, then a presidential candidate, responding to criticism for recommending Kerik to President Bush to be Homeland Security Secretary (New York Daily News, Nov. 9, 2007) (Read "Inside Kerik's Fall...

Author: /time Magazine | Title: Bernard Kerik | 11/6/2009 | See Source »

...sees the court's rulings as an inconvenience, something to be ignored and an obstacle to be circumvented." - Federal Judge Stephen Robinson, revoking Kerik's bail and describing him as a "toxic combination of self-minded focus and arrogance." (New York Times...

Author: /time Magazine | Title: Bernard Kerik | 11/6/2009 | See Source »

...Congratulations. You've just hired Rambo." - An unnamed city official, to New York's corrections commissioner after hiring Kerik as a deputy. (New York Times...

Author: /time Magazine | Title: Bernard Kerik | 11/6/2009 | See Source »

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