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First, you'll need money. How much? Let's say you want to trade one contract of crude oil on the New York Mercantile Exchange (NYMEX). Since you're not a member of the exchange, and no one will really trust your new oil venture, you're going to need to start with at least $10,000 in your margin account (similar to a brokerage account, but it lets you leverage your bets to the hilt) as collateral to comfortably trade one contract. That might sound like a lot for just one contract, but a single contract on NYMEX represents...

Author: /time Magazine | Title: So You Want to Be an Oil Speculator? | 8/10/2009 | See Source »

Bratton, who officially leaves on Oct. 31, is hoping he will be remembered for his positive impact on the LAPD and the city he grew to love. And he makes a pointed comparison with New York City, where, until he was unceremoniously fired as police commissioner by then-Mayor Rudy Giuliani, he started the policing techniques that are credited with starting the Big Apple's dramatic reduction in crime. Villaraigosa told TIME: "When I first got elected, everybody said that we were going to be like him and Giuliani because we were both strong and we were both, as people...

Author: /time Magazine | Title: Why is Los Angeles Losing Its Police Commissioner? | 8/8/2009 | See Source »

Bratton stated several reasons for leaving aside from completing the goals he began with: the challenge of the new post as well as monetary gain and the chance to influence policing approaches on a global scale. He and his wife's also want to return to New York; and Bratton says he wants to live closer to his 83-year-old father in Boston...

Author: /time Magazine | Title: Why is Los Angeles Losing Its Police Commissioner? | 8/8/2009 | See Source »

Speaking to TIME, Bratton specifically said that he proved that by using the New York techniques in Los Angles, he was able to prove their "phenomenal impact on crime and crime rates." Says Bratton: "When I go back to New York, as I do frequently, I see and feel firsthand the very positive changes that were made and I would hope that would be the case when I return to L.A., that the city is a very different place, a much safer place...

Author: /time Magazine | Title: Why is Los Angeles Losing Its Police Commissioner? | 8/8/2009 | See Source »

...being asked only by liberal antiwar opinion-makers. It has also been raised by a growing number of senior officials in Washington and U.S. commanders in Iraq. An internal memo drafted by Colonel Timothy Reese, an adviser to the Iraqi senior military command, and leaked to the New York Times last month doesn't mince words. He writes that it is time "for the U.S. to declare victory and bring our combat forces home...

Author: /time Magazine | Title: The Case for Leaving Iraq — Now | 8/8/2009 | See Source »

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