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...cost a penny more. The $290 million increase in the cost of building venues announced on Feb. 5, for instance, will come out of a $3 billion contingency fund included in the inflated budget. So too will the $682 million in extra public money needed for the media center and Olympic village - home to some 17,000 athletes during the Games, before turning into 3,000 apartments following them - after private investors spooked by the downturn backed away from the projects...

Author: /time Magazine | Title: In Hard Times, Olympic Plans Go On a Budget | 2/10/2009 | See Source »

...compromised, so the spreads among forecasts get very broad as things get worse. It might be of some comfort that all analysts think that 555 banks will fail in the next 24 months. Instead, some put the number at 200 and others at 1,400. The facts at the center of the analytic process change so fast that even the well-trained experts cannot keep up with and integrate the constantly changing information, in order to offer consistent predictions...

Author: /time Magazine | Title: Guessing How Many Banks Will Fail | 2/10/2009 | See Source »

When he's speaking from prepared text, Geithner is less than riveting. He has an odd, somewhat robot-like way of scanning the audience when he talks: look left, look center, look right, look center, etc. Sitting in the witness chair before a congressional committee, though, he is brilliant - at least when he's not having to spend all his time apologizing for screwing up his tax returns, as he did during his confirmation hearing last month. Today, before the Senate Banking Committee, he answered the questions he could easily answer with brisk clarity and deflected the ones he couldn...

Author: /time Magazine | Title: Justin Fox Reviews Tim Geithner's Big Day | 2/10/2009 | See Source »

...case where greater African unity could have a major impact is the failed state of Somalia, where a vicious internecine conflict has raged since the collapse of central government in 1991. Somalia has been a center of lawlessness and disorder for some years now, and failed military intervention by the United States and Ethiopia in 1993 and 2006 demonstrates that only a much stronger, multilateral African group can have any hope of success...

Author: By Alexander R. Konrad | Title: Crowning the King of Kings | 2/10/2009 | See Source »

...been in the throes of a passionate debate over an emergency bill introduced by Prime MinisterSilvio Berlusconi that would have forced doctors to resume life-support. When news of the death reached the Senate floor, there was a moment of silence before several Berlusconi allies began shouting: "Assassins!" Another center-right Senator, Gaetano Quagliariello, declared: "Eluana didn't die, she was killed...

Author: /time Magazine | Title: A Controversial End to Italy's Own Terri Schiavo Case | 2/9/2009 | See Source »

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