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Historian H.W. Brands of the University of Texas points to the demise of the Glass-Steagall Act in 1999 as an unfortunate tipping point of deregulation. Glass-Steagall, passed in 1933, separated investment banking and plain-vanilla banking, which some experts argued made markets safer. (Certain restrictions of Glass-Steagall were repealed to allow the merger of Citicorp and Travelers. Let's just say that didn't end well.) "That was the single moment when the seeds for the bad stuff were planted," says Brands. "There was a belief that technology, the Internet and financial instruments had changed things...

Author: /time Magazine | Title: The '00s: Goodbye (at Last) to the Decade from Hell | 11/24/2009 | See Source »

...Pracharoonkittisophano shrugs his shoulders when asked whether women twirling rifles, along with a shooting range behind his sleeping quarters, elicits any spiritual discomfort. "Guns are normal things in our world," he says. "I see them on TV all the time, and the types of guns used here are much safer than the big ones on TV." Until they kill...

Author: /time Magazine | Title: Thailand: Aiming For Parity | 11/23/2009 | See Source »

Banks, credit-card companies and other financial firms are doing everything they can to wean us off paper. Tracking our accounts online is better for the environment, they say, more convenient and safer too, since we won't have sensitive data sitting in our mailboxes. (The fact that firms save about $1 per statement tends not to make it into the pitch...

Author: /time Magazine | Title: What Gets Lost When Our Finances Go Paperless | 11/23/2009 | See Source »

This is the case because the investment banking division can use FDIC-insured funds from the retail-banking division to indirectly finance excessive risk-taking. The retail bank’s customers will not transfer their deposits to a safer institution because they know that the FDIC will compensate them in the event of a bank failure. This moral hazard encourages further mergers between retail and investment banks, which in turn begets more institutions that are “too big to fail.” When excess risk gets a conglomerate bank into trouble, the bill goes to?...

Author: By Anthony P. Dedousis | Title: Too Big to Fail is Too Big | 11/19/2009 | See Source »

...into theaters by telling them they're all gonna die. He's done it before. A past master of disaster, the German director devastated the planet in Independence Day and The Day After Tomorrow; he wasted New York City in Godzilla and showed us the distant past was no safer in 10,000 B.C. This time Emmerich left billions of humans crushed in the convulsions of the earth and for good measure killed off the (African-American) President of the U.S. and the Pope. Give the people what they want...

Author: /time Magazine | Title: Box-Office Weekend: 2012 Masters Disaster | 11/15/2009 | See Source »

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