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...began on Wall Street has seeped into the minds and hearts of South Korean businessmen, bankers and housewives, who fear the consequences of an impending global recession. With the country heavily reliant on exports, South Korea, like the rest of Asia, cannot escape the fallout from a U.S. downturn. Goldman Sachs predicts GDP growth will sink to 3.9% in 2009, the lowest since...

Author: /time Magazine | Title: A Depressed Mood | 11/13/2008 | See Source »

...original Blue Men--Matt Goldman, Phil Stanton, Chris Wink--came together as "sort of a support group for people whose creativity had been all but squeezed out of them by education," says Wink. "At one point, we asked, What if there was a school you didn't have to recover from, that didn't make you question the idea of being creative?" After they had kids--with Blue Man Group revenues as their piggy bank and their wives as founding members of the school's board--they decided to find...

Author: /time Magazine | Title: At the Blue Man Group's School, Kids Rule | 11/13/2008 | See Source »

Over the past two months, Paulson's public image has taken quite a beating. The former Goldman Sachs CEO entered September as the can-do dealmaker who seemed to have finally gotten the yearlong mortgage crisis under control. Now, after the expensive rescues of Fannie Mae, Freddie Mac and AIG, the failure of Lehman Brothers, and the painfully dramatic struggle to get a $700 billion financial bailout bill through Congress, he is a much-diminished figure. He has zigzagged and he has waffled and he has backtracked. His decisions and his motives have been harshly questioned on Capitol Hill...

Author: /time Magazine | Title: Paulson: Near The Finish Line, And Looking Like It | 11/12/2008 | See Source »

...banks to acquire investment dealers on Toronto's Bay Street, the country's financial hub. As a result, these institutions are subject to the same strict rules as commercial banks, while U.S. investment dealers are subject to only light supervision from the Securities and Exchange Commission. Morgan Stanley and Goldman Sachs, of course, will now be under the U.S. Federal Reserve's supervision since they have been chartered as bank-holding companies...

Author: /time Magazine | Title: Why Canada's Banks Don't Need Help | 11/10/2008 | See Source »

When firms did steer clear of what was, in retrospect, excessive risk, the tone typically came from the top. Goldman Sachs, which has a long history of CEO interest in risk management and rotates its traders and risk managers through one another's jobs, pulled back from mortgage-related securities earlier than most after direct orders from...

Author: /time Magazine | Title: Reassessing Risk | 11/5/2008 | See Source »

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