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That may be because McCain took a frenetic, borderline erratic approach to the crisis, thrusting himself into the negotiations to very little effect. First he announced that he would suspend his campaign to salvage the bailout talks and would skip the first presidential debate unless negotiators hammered out a deal--although he didn't seem to suspend much, and the talks had been going pretty well without him. They blew up only after he dragged the circus of presidential politics back to Washington and left the impression that he agreed with House Republicans who opposed the deal. Then McCain announced...

Author: /time Magazine | Title: How They Failed Us | 10/2/2008 | See Source »

...presidential nominees have cultivated reputations as change agents and truth tellers, but their tepid, hedged support for the emergency package didn't look reassuring either. Obama has taken a cautious and detached approach, articulating principles--transparency, oversight, limits on golden parachutes, protections for taxpayers and homeowners--but mostly staying out of the way. He didn't really act like a leader, but he doesn't hold a leadership position, and so far voters seem to appreciate his cool response. While Washington Mutual and Wachovia were disappearing and investment banks were going extinct overnight, Obama was pulling ahead in the polls...

Author: /time Magazine | Title: How They Failed Us | 10/2/2008 | See Source »

...state's elected officials have always worked closely with oil companies--at times, too closely. In the late 1950s, bureaucrats actually hired an oil-industry lawyer--with the big oil companies paying his expenses--to write the new state's oil and gas lease laws. Palin's populist approach was the perfect complement to rising public discontent with Big Oil, and it was the main engine of her remarkable rise from small-town mayor to a place on the Republican national ticket...

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

...team went overboard. "They had a tendency to be preachy," says Larry Persily, who worked in Palin's Washington office. "They are true believers, zealots even." Irwin defends the hard line: "People in Alaska are tired of being pushed around by oil and gas companies." Palin's approach, Galvin says, "represented a fundamental shift in the entire relationship between the state and companies...

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

Yuriko Koike is a Japanese politician with an engaging manner, a fine track record as a cabinet minister, a worldly outlook and the sort of fresh approach that Japanese politics so desperately needs. None of that did her much good when she recently ran for the leadership of the ruling Liberal Democratic Party - she received just 46 ballots out of a possible 527. Why did she do so badly? Not just because of some residual male chauvinism, perhaps, but also because she was too obviously the candidate of reform, of liberalization - in other words, she was the candidate...

Author: /time Magazine | Title: American Leadership, a Casualty of the Meltdown | 10/1/2008 | See Source »

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