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...Washington experience, dating to the Nixon White House. He had just spent seven years running Goldman Sachs, the current cream of Wall Street firms (and also the place that prepared Robert Rubin for his successful 1990s tenure at Treasury). But the key to understanding Paulson's approach is that he spent the bulk of his career not as a manager but as an investment banker. What a good investment banker does is build relationships - chiefly with the CEOs of companies whose business he is courting, but also with anybody else who can help make deals happen...

Author: /time Magazine | Title: Can Paulson Save the Economy? | 7/31/2008 | See Source »

...Republicans inside and outside the campaign have griped privately about the need to find their story line. And there have been fierce debates about how to do it. Some of McCain's former advisers have said that McCain needs to stick to his historic strengths, his maverick, straight-talking approach, which appeals to the political center. Others have urged McCain to charge at Obama head-on. If the race is going to be about Obama, they reason, then Obama must be taken down...

Author: /time Magazine | Title: McCain's Anti-celebrity Story Line | 7/31/2008 | See Source »

...debate has come to an end, and the more aggressive approach has clearly won out. The McCain campaign, under the direction of its new leader, Steve Schmidt, has settled on a story line that could last through the election. It is, at root, an experience argument, adjusted to undercut the enormous enthusiasm that Obama generates. It can be seen in the recent McCain campaign ad that compares Obama to Britney Spears and Paris Hilton, or the recent Republican Party ad that compares Obama to David Hasselhoff. It can be seen in the recent self-deprecating distribution of "junior varsity" press...

Author: /time Magazine | Title: McCain's Anti-celebrity Story Line | 7/31/2008 | See Source »

...former McCain adviser, John Weaver, also expressed worry to the Atlantic Monthly that the spot would make McCain look "childish" and "diminish the brand." On the other side of the argument, Republican strategists worry that the new approach may not be enough to take down Obama, especially in the absence of a third-party group, like the Swift Boat Veterans for Truth in 2004. "They have managed to scare off outside groups," said one veteran party strategist of McCain's, who, as a longtime supporter of campaign finance reform, is opposed to such third-party spending. "The outside groups have...

Author: /time Magazine | Title: McCain's Anti-celebrity Story Line | 7/31/2008 | See Source »

...source for this story. "In my presence, in the White House, the possibility of using Diego Garcia for detaining high-value targets was discussed," he says. Clarke did not witness a final resolution of the issue, but adds, "Given everything that we know about the Administration's approach to the law on these matters, I find the report that the U.S. did use the island for detention or interrogation entirely credible...

Author: /time Magazine | Title: Source: US Used UK Isle for Interrogations | 7/31/2008 | See Source »

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