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...political observer calls him, for opposing concessions won by producers on the gas pipeline. Immediately, six of Irwin's top aides walked out in solidarity. The mass exodus created a firestorm, with editorial writers and politicians extolling the "Magnificent Seven" and calling the mass resignations the "Thursday-afternoon massacre...

Author: /time Magazine | Title: Palin's Pipeline to Nowhere? | 10/2/2008 | See Source »

...While at Ankarafantsika, we were sternly warned not to stray too close to the beautiful lake just a few minutes walk from our bungalows, because crocodiles had snapped up and devoured several people over the last several months. When we took a boat trip on the lake late one afternoon, we got to see crocodiles sunning themselves on the shore, including one specimen more than 12 ft. long - most of it jaws. Cuteness is a nice evolutionary trait, but when it comes to long-term survival, you can't beat fear...

Author: /time Magazine | Title: What Madagascar Needs is a Mascot | 10/1/2008 | See Source »

...experts are right, the nation now risks great financial hardship, because there was no one to stand up and explain the situation. The Dow Jones industrial average dropped 778 points on the news. Treasury Secretary Hank Paulson warned Monday afternoon that car loans and student loans were likely to tighten. Other economists have warned of the possibility of widespread corporate failures and unemployment, if the short-term credit markets freeze up. Bank failures, or mergers, are likely to continue. The taxpayer costs of federal insurance on deposits could increase...

Author: /time Magazine | Title: The Bailout Defeat: A Political Credibility Crisis | 9/30/2008 | See Source »

...perhaps it shouldn't have come as such a shock when the House of Representatives failed to pass the bill Monday afternoon, or that the rest of the day was spent in partisan fury and recriminations: Democrats blamed Republicans, Republicans blamed the Dems, the House blamed the Senate, the Senate blamed the House, John McCain blamed Barack Obama, Barack Obama blamed - well, you get the picture. Only one player remained relatively restrained in the aftermath of the defeat, which led to a 777-point free fall for the Dow Jones industrial average, the largest single point drop in history...

Author: /time Magazine | Title: Anatomy of a Legislative Meltdown | 9/30/2008 | See Source »

...stakes became even clearer once the tally started at 1:27 Monday afternoon. By 1:51, 227 members had voted against it - nine votes more than the 218 majority. By 2:02 p.m., Hoyer and Representative Rahm Emanuel, the No. 4 House Democrat, were in animated discussions on the Republican side of the chamber with Boehner and Blunt. Hoyer "was running around in there saying, 'The market is falling! The market is falling!' " said Scott Garrett, a New Jersey Republican. Faced with a major GOP shortfall, Democrats refused to force 12 of their members to change their votes...

Author: /time Magazine | Title: Anatomy of a Legislative Meltdown | 9/30/2008 | See Source »

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