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...Indeed, even without the $700 billion bailout, Paulson has already written some big checks - to cover the subsidized sale of Bear Stearns to JPMorgan, the nationalization of mortgage monsters Fannie Mae and Freddie Mac, the bailout of insurance giant AIG and the sales of Washington Mutual to JPMorgan and Wachovia to Citigroup. All of this will cost somewhere between $200 billion and $300 billion...

Author: /time Magazine | Title: The End of Prosperity? | 10/2/2008 | See Source »

...Consumer confidence is also being dented by sliding property prices. India's property market, which has seen 30% to 50% annual price growth in recent years, is weakening. "The sustained climate of high interest rates, combined with an equity bear market, has been putting downward pressure on pricing across real estate asset classes," says Raj Inamdar, chief investment officer at SRM Realty Advisors in New Delhi. China, where construction of commercial and residential projects has been especially rampant, may be facing "an imminent bust of a real estate bubble," Merrill Lynch warned in a September report. A recent survey...

Author: /time Magazine | Title: Asia's Good Times at Risk | 10/2/2008 | See Source »

Awful as the diseases and wars are that he has covered, his images bear a haunting and austere elegance. His pictures can make you tear up, but they're never sentimental. Sometimes you gasp at the terrible beauty he finds in something that is simply terrible. In other words, Jim's work is something rare in journalism: art. Jim has spent a lifetime turning agony into imagery and giving, as he puts it, "voice to those who otherwise would not have a voice...

Author: /time Magazine | Title: Shedding Light | 10/2/2008 | See Source »

...speech, Scalia invoked the era before Earl Warren became Chief Justice in the mid-20th century, when the standard view held that the Constitution should be “no different from any other legal text, such as a statute.” “It bears a static meaning which does not change from generation to generation,” Scalia said. Although Scalia did not entirely disavow the importance of historical context, he criticized the non-originalists’ interpretation of the Constitution, which may use moral and philosophical arguments. “Lawyers [and judges...

Author: By Athena Y. Jiang, CRIMSON STAFF WRITER | Title: Scalia Defends Original Meaning | 10/2/2008 | See Source »

Police say Griffin then wrapped her arms about Jesse so tightly that they feared for the toddler's safety. "She pulled the baby into her chest like a bear hug. She then turned away from officers while bending over at the waist, turning her body in an attempt to prevent the officers from taking the child." When another officer stepped in, Griffin began swinging back and forth urgently, causing Jesse to begin to cry and his head to lurch violently back and forth, the complaint reads. "The detective was concerned that the baby would not be able to breathe. Using...

Author: /time Magazine | Title: Sad End to Milwaukee Child-Custody Case | 10/2/2008 | See Source »

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