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...unemployment rate has risen too, nearing 10%. In stark contrast, Goldman Sachs has set aside some $11.36 billion so far in 2009 in total compensation and benefits for its 29,400 employees. That's about on pace with the record payout the firm made in 2007, at the height of the bubble. Thanks to Andrew Cuomo, the New York State attorney general, we know that in 2008, while Goldman earned $2.3 billion for the year, it paid out $4.82 billion in bonuses, giving 953 employees at least $1 million each and 78 executives $5 million or more (although Goldman...

Author: /time Magazine | Title: The Rage Over Goldman Sachs | 8/31/2009 | See Source »

...batch of numbers instilling hope that we've arrived at a bottom shows that house prices are beginning to creep back up. The S&P/Case-Shiller index of home prices in 20 cities saw a 1.4% gain between May and June. That's only the second time the index has risen since the summer of 2006 (the other time was the month before). Once you adjust the data for seasonality - the fact that houses tend to sell for more money in the warmer months - the increase in July was actually the first since May 2006. Home-price data from the Federal...

Author: /time Magazine | Title: The Housing Market: Has It Turned the Corner? | 8/26/2009 | See Source »

Ironically, we were thinking of the future in 1980 too, despite the hard reality of our loss. Carter's fortunes had risen in the spring as people rallied behind him when 52 Americans were taken hostage in Iran. He would be doomed by the same crisis when it lasted into the fall, but in the meantime, he invoked it to cancel his one scheduled debate with Kennedy and decline all future ones. Kennedy had surged several times in the long contest. It surprised even us when he trounced Carter in New York. Expecting Kennedy to be defeated, I had originally...

Author: /time Magazine | Title: Bob Shrum Recalls Ted Kennedy's Greatest Speech | 8/26/2009 | See Source »

...Reaching out to new voters without the Web will be a challenge. Politicians' personal web sites, which have risen in number over the past few months as campaigns have become more Internet savvy, can be accessed - but not updated - during the campaign period. Opposition pols and campaign advisers argue that the 1950 Public Offices Election Law should be updated to allow for internet-friendly campaigning. "People can't ask questions when they most want to ask them, and we can't communicate when we most want to do so," says Kan Suzuki, a DPJ member of the upper house...

Author: /time Magazine | Title: Japan's Twitter-Free Election Campaign | 8/18/2009 | See Source »

...critics also charge that the Larijani brothers have risen so far as much from opportunism as political savvy. Many analysts believe Ali Larijani may be positioning himself to run for the presidency again after Ahmadinejad's term ends in 2013. "They are nakedly ambitious. Their overarching principle seems to be to position themselves wherever power lies," said Sadjadpour. "If the Shah were still in power, they'd be coveting him. And if Iran evolves into a democracy, they'll try and reinvent themselves as progressive democrats...

Author: /time Magazine | Title: Will Iran's 'Kennedys' Challenge Ahmadinejad? | 8/17/2009 | See Source »

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