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...turf battles and unyielding attachment to deregulation have been abandoned, perhaps forever. The Fed and Treasury have together seized de facto control of the regulation of all financial institutions of significance, and nobody at either agency seems willing to believe anymore that financial markets are invariably right. In March, Treasury Secretary Hank Paulson proposed a system in which there would be one regulator (the Fed) in charge of market stability, another tasked with prudential regulation of institutions that rely on government guarantees (at the time it meant just banks and insurers, but these days it could be anybody), and another...

Author: /time Magazine | Title: While the Regulators Fiddled ... | 9/17/2008 | See Source »

...Livingston was conceived in March in Lowell Dining Hall. The parents were three men—Justin R. Gerrard ’10, Justin W. White ’10, and Ben P. Arabia ’10—all fashionistas who combined their interests in design and pooled their capital to birth a new collection of luxury streetwear ideal for the collegiate crowd...

Author: By Charleton A. Lamb, CRIMSON STAFF WRITER | Title: Harvard Couture | 9/17/2008 | See Source »

...McCain admits, in less exuberant settings, that drilling will not affect gas prices anytime soon, but that's not the point. The issue is an electoral winner for Republicans. Between March and June, around the time when gas settled above $4 per gallon, the American electorate shifted from its long-standing 50-50 split between those who want more energy conservation and those who want more petroleum extraction. A Gallup poll in May found the split at 57%-41% in favor of offshore and wilderness drilling. A mid-June Pew poll found a 12-point swing since February in favor...

Author: /time Magazine | Title: Democrats Join the 'Drill, Baby, Drill!' Chorus | 9/17/2008 | See Source »

...their families. We feel really sad about this," Sanlu vice president Zhang Zhenling told reporters on Sept. 15. He bowed in apology, but offered no explanation as to why the company waited until September to launch a recall when parents began raising questions about Sanlu's milk powder in March...

Author: /time Magazine | Title: Tainted-Baby-Milk Scandal in China | 9/16/2008 | See Source »

...domestic demands for greater scrutiny of Chinese food products. Last year, the food supply chain became an international concern when a series of faulty export products were uncovered including fish contaminated with banned drugs, toothpaste and cough syrup made with toxic chemicals and lead paint used on toys. In March and April of 2007, Melamine emerged as the chief suspect in the poisoning of thousands of dogs and cats in the U.S. that were fed pet food made from Chinese ingredients. China responded by banning the substance for use in animal feed, but its reappearance in milk powder...

Author: /time Magazine | Title: Tainted-Baby-Milk Scandal in China | 9/16/2008 | See Source »

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