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Federal Reserve chairman Ben Bernanke, speaking via satellite to a bank conference sponsored by the Chicago Federal Reserve Bank, said on Thursday morning that the stress tests "will allow, I hope, for greater confidence in the banks." But even though the stress tests are over, the banks and their investors are not out of the woods...

Author: /time Magazine | Title: The Bank Stress Tests: A $75 Billion Mid-Term Exam | 5/7/2009 | See Source »

...wants to close prisons, fire teachers, shutter programs for autistic kids and ultimately shut down state government during a recession. And those portrayals aren't coming from Democrats. "The governor has one of the most radical philosophies I've ever seen," says state senator Hugh Leatherman, 78, the Republican chairman of the finance committee. "I'm a conservative, but this could be the most devastating thing our state has ever seen." To Sanford, Leatherman is a fraudulent Republican franchisee, but to most Republicans in the legislature, the governor is the one tarnishing the brand. "Most of us are Ronald Reagan...

Author: /time Magazine | Title: One Year Ago: The Republicans in Distress | 5/7/2009 | See Source »

...member of the committee, "The reason it won't come up is because he has been a member of the committee for a long period of time, and he's showed a great deal of impartiality. And he doesn't hold any of those views." Even the committee's chairman, Vermont Democrat Patrick Leahy, welcomed Sessions: "I get along well with him. I've always kept my word to him and he's always kept his word to me, and that's the most important thing...

Author: /time Magazine | Title: Sessions Could Make Obama's Supreme Court Fight Tougher | 5/6/2009 | See Source »

...Administration worries that stringent conditions demanded by the House (the Senate is somewhat more accommodating) will be interpreted in Pakistan as a sign that the U.S. is pulling away from its old ally, and could weaken the government. But lawmakers seemed unimpressed by Holbrooke's appeals. Committee chairman Democrat Howard Berman of California said the House is "simply asking the Pakistanis to keep the commitments they have already made to fight the terrorists who threaten our national security and theirs, and that they make some progress doing so, with progress defined very broadly." If that is unreasonable, Berman asked, "then...

Author: /time Magazine | Title: Zardari in Washington: Hard Questions for Pakistan's Leader | 5/6/2009 | See Source »

...surprising that conservative tycoon Ricardo Martinelli upset Panama's powerful ruling party on Sunday to win the presidency in a landslide. Martinelli, 57, is a U.S.-educated free-marketeer, a millionaire whose business empire includes supermarkets, banks and agricultural firms. Just as important, earlier in this decade Martinelli was chairman of the Panama Canal's board of directors and Minister of Canal Affairs when the ACP decided on a $5.25 billion expansion of the canal, approved by voters in 2006, which has already created 2,000 new jobs and promises to engender thousands more before the project is finished...

Author: /time Magazine | Title: Panama's New President: A Boost for Business | 5/5/2009 | See Source »

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