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...Adelphia scalps gave the Administration a chance to look as if it was taking charge amid the dreadful financial news. Through much of July, as toxic stock syndrome plunged the market to five-year lows and nudged his poll numbers to mortal levels, the President and his top economic advisers appeared helpless and sometimes befuddled. Wall Street was not impressed. As a private equities fund manager told TIME, "It doesn't seem like his top priority. It doesn't seem like he understands. It doesn't seem like they have their act together." Each time Bush gave a speech promising...
...while the CHA can point to some success stories, the Cabrini-Green exodus has not played out as smoothly as many of the former tenants had hoped, leaving them in conditions hardly better than those they left. For the relocations have come amid the worst affordable-housing crunch in recent memory. During the economic boom of the 1990s, as middle-class buyers purchased condominiums at a record pace, Chicago lost about 52,000 rental units. As more properties were converted to private ownership, the rates for remaining rentals climbed, pricing out people at the lower end of the market...
INDIA Elections Amid Bloodshed India's Election Commission announced that voting for seats in Kashmir's state assembly would start next month despite continuing bloodshed. India accused Pakistan of not doing enough to curb Islamic militancy after four suspected militants and one Indian army officer died in a gun battle in Rajouri in Indian-administered Kashmir. At least 69 people?Indian security forces, Kashmir militants and civilians?died across Indian Kashmir. And police remained on high alert as 100,000 Hindu pilgrims, above, amassed in the state...
...head fight and to protect Hamas's position in the wider Arab world. But the Gaza strike suspended even that discussion. Israel had also been in discussions with Palestinian security officials over measures to ease the suffering of ordinary Palestinians, but those too are likely to be postponed amid a new wave of violence...
There is a curious postcard on sale at the Andy Warhol Museum of Modern Art at Medzilaborce, in northeastern Slovakia. It shows the American Pop artist pushing his bike down the town's slushy main street. With his trademark silver-white hair, Warhol looks slightly out of place amid the communist-era low-rises lining the street...