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...report said at least six complaints raised questions about Madoff's trading practices, with some even suggesting a Ponzi scheme was involved. They questioned "Madoff's incredible and highly unusual fills for equity trades, his misrepresentation of his options trading and his unusually consistent, non-volatile returns over several years," as well as how Madoff's alleged strategy and purported returns could not be duplicated by anyone else and had "no correlation to the overall equity markets in over 10 years." One tipster even nudged the SEC that "it may be of interest to you that Mr. Madoff keeps...

Author: /time Magazine | Title: SEC Internal Review Cites Multiple Failures on Madoff | 9/2/2009 | See Source »

...correspondence less than two months after the fact, providing a powerful close to the day of prayer and remembrance. Kennedy wrote to the Pope about his own failing health, as well as his legislative battles on behalf of the less fortunate. And though conceding that he was "imperfect," at least in the portion read aloud, there was no mention of the issues that divided him from Church teaching, like abortion. "I have always tried to be a faithful Catholic, Your Holiness, and though I have fallen short through human failings, I have never failed to believe and respect the fundamental...

Author: /time Magazine | Title: The Pope's Response to Ted Kennedy's Letter: Pro Forma | 9/1/2009 | See Source »

...Dalai Lama was invited by local opposition leaders in southern Taiwan to come and visit the victims. Morakot hit Taiwan on August 8th and left at least 568 dead or missing and over 7000 homeless. The island has been angry at the government's slow relief efforts and is in pain from the loss of their loved ones and homes. For Ma, whose approval ratings have hit an all time low in Morakot's aftermath, rejecting the Tibetan leader's visit - as he did last December - would have been political suicide. A recent poll shows that sixty percent of Taiwan...

Author: /time Magazine | Title: Dalai Lama Meets Protests, Tears in Taiwan | 9/1/2009 | See Source »

...German politics is no longer dominated by the two big parties - the Christian Democrats and the Social Democrats - with the kind of stable two-party coalitions that were typical of West Germany. The political game is much more open, with at least five parties vying for power and reflecting the much broader spectrum of political opinion in the population. This seemingly unstable coalition system is the new normal. "The trend for the future is a stabilization of instability," says Ulrich von Alemann, a political scientist at the University of Düsseldorf. (Read "Busting Out: German Pol Plays the Cleavage...

Author: /time Magazine | Title: Small Parties Gain in German State Votes | 9/1/2009 | See Source »

...Libya's Minister of External Relations, Mohammed Siala, further stoked the secret-deal theory on Sept. 1 when he suggested that the release would probably help Britain's prospects in the country. "This political problem is unstuck. At least we moved it away, and this will open good avenues for developing relations," he told reporters in Tripoli...

Author: /time Magazine | Title: Lockerbie Bomber's Release Casts a Shadow Over Gaddafi Celebration | 9/1/2009 | See Source »

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