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...value of doing this is it would clarify which banks are and which banks aren't undercapitalized," says Harvard Law professor Lucian Bebchuk, whose September proposal for toxic-asset purchases by competing investors seems to have provided a template for Treasury's plan. "It's reasonable to expect that restarting the market for troubled assets will lead us to discover that some banks are in a healthy position and will make it absolutely clear that some banks are in an unacceptable position...

Author: /time Magazine | Title: Separating Toxic Assets from Legacy Assets | 3/26/2009 | See Source »

James Fallon, a professor of psychiatry and human behavior at the University of California at Irvine School of Medicine, is skeptical. "So I take a rutabaga and put it close to my head, and it somehow changes the food and improves the mood of the person who ate it?" he asks...

Author: /time Magazine | Title: Mind over Chocolate | 3/26/2009 | See Source »

...Optimalist" Most people would define optimism as being eternally hopeful, endlessly happy, with a glass that's perpetually half full. But that's exactly the kind of deluded cheerfulness that positive psychologists wouldn't recommend. "Healthy optimism means being in touch with reality," says Tal Ben-Shahar, a Harvard professor who taught the university's most popular course, Positive Psychology, from 2002 to 2008. "It certainly doesn't mean being Pollyannaish and thinking everything is great and wonderful...

Author: /time Magazine | Title: A Primer for Pessimists | 3/26/2009 | See Source »

...crossings is mostly due to a clampdown at the land border between Tijuana and San Diego, which has become almost impassable thanks to an increase in border-patrol agents, a National Guard presence, a refortified fence and ubiquitous cameras. "It's virtually impossible to cross," says David Kyle, associate professor at the University of California at Davis and an adviser to the U.N. on human smuggling. The tightened border has left smugglers three alternatives, he says: try to bribe a border-patrol agent, cross east in the treacherous desert or go west into...

Author: /time Magazine | Title: Watching for Immigrants Off California's Coast | 3/26/2009 | See Source »

Smile in Your Profile Picture If all else fails, try "catching" happiness from your friends. We are social beings, of course, and our outlook is influenced to no small degree by that of our friends and family. Dr. Nicholas Christakis, a professor at Harvard Medical School, documented in a 2008 study just how extensive and powerful this network effect is. Compared with glum people, those who were happy were more likely to be surrounded by other happy people - even the friends of happy people's friends' friends (who might be complete strangers) tended to be happy...

Author: /time Magazine | Title: A Primer for Pessimists | 3/26/2009 | See Source »

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