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...Obama can turn a feel-good moment into improbable changes in our discourse, he might be helped by something that helped him pull off an improbable win: the Internet. It's true that new media have helped polarize politics by creating echo chambers of agreement. But the kind of social media the Obama campaign used, like Facebook, also help people broaden their spheres and see how they are connected with people who are different from them. And they're popular among the same young people who are turned off by the old political dualisms and categories...

Author: /time Magazine | Title: Pop Goes Washington | 1/21/2009 | See Source »

...Washington is wondering just how Emanuel is going to fare in what has long been the second hardest job in Washington. Emanuel honed his political skills as a top aide to Bill Clinton in the White House, where he was instrumental in shepherding the North American Free Trade Agreement and welfare reform through Congress. After a stint in investment banking in Chicago, Emanuel returned to Washington as an Illinois Congressman, rose quickly through the House leadership and masterminded the Democrats' takeover of the House...

Author: /time Magazine | Title: An Enforcer Named Emanuel | 1/21/2009 | See Source »

...dollars of loans to banks and brokerages through its emergency lending window. It has lowered interest rates to zero. Treasury has put $25 billion into each of the money center banks. It is now backing over $300 billion in bad assets held by Citigroup (C) through a loss-sharing agreement. Bank of America (BAC) is getting a similar deal. The programs to back bad assets is almost certainly going to spread. (See pictures of TIME's Wall Street covers...

Author: /time Magazine | Title: Building A $1 Trillion "Bad Bank" | 1/17/2009 | See Source »

...truce that would begin with a lull in fighting for a defined period (10 days, by some accounts). That interlude would then allow for the brokering of a more comprehensive cease-fire. But each side's goals from any truce remain antagonistic to the other's, and reaching an agreement that bridges the vast gap between them remains a herculean diplomatic challenge...

Author: /time Magazine | Title: How the Gaza War Could End: Three Scenarios | 1/16/2009 | See Source »

...Some Israeli reports suggest that halting the offensive without an agreement is the option favored by Livni. And its prospects may be enhanced by the realization that negotiations over a formal cease-fire may take more than 10 days and may, in fact, not be resolved before Israel has elected a new government - possibly, one with little interest in a truce with Hamas. But even an unspoken truce would have to involve the opening of crossings to relieve the humanitarian catastrophe and would require mechanisms for monitoring the flow of goods into Gaza and smuggling via tunnels. In other words...

Author: /time Magazine | Title: How the Gaza War Could End: Three Scenarios | 1/16/2009 | See Source »

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