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Indeed, resistance to the bill was so high among conservatives that leftist opponents seemed surprised when they weren't joined by enough rightist defectors to defeat it. "The Senate has been transformed into a kind of chamber of followers with only one liberty: the one to say yes," said Leftist Radical party Senator François Fortassin after the legislation eked through with a 165 to 159 score...

Author: /time Magazine | Title: Many French Dislike Law Increasing Sunday Shopping | 7/24/2009 | See Source »

...others are confident that the damage will be limited to UBS. "We don't foresee any negative impact on the Swiss banking industry as a whole," says Martin Naville, CEO of the Zurich-based Swiss-American Chamber of Commerce, an organization that helps Swiss companies in the U.S. and U.S. companies in Switzerland expand their businesses. "It's the cleanest system in the world, with strict laws on money laundering, terrorist finances, corruption and other illicit activities." (Read "The Scandal of Secret Swiss Bank Accounts...

Author: /time Magazine | Title: U.S. vs. UBS: A Fight Over Secret Swiss Bank Accounts | 7/15/2009 | See Source »

...case, it will "vigorously pursue" the matter and may even seize the bank's American assets. But such an aggressive response "might destabilize UBS and have a major impact on the American economy, so the U.S. government should proceed at its own risk and peril," says the Swiss-American Chamber of Commerce's Naville, who points out that both countries have "a lot at stake" in each other's economies. Switzerland is the U.S.'s 15th largest export market and, with almost $149 billion spent in 2008, its fourth largest recipient in terms of direct investment. Switzerland, for its part...

Author: /time Magazine | Title: U.S. vs. UBS: A Fight Over Secret Swiss Bank Accounts | 7/15/2009 | See Source »

...demanding that all 60 support blocking a filibuster, even if they don't ultimately vote for the bill. This strategy, however, would assume that Ted Kennedy and Robert Byrd - both of whom have been absent in recent months due to serious health problems - could make it to the chamber for a vote...

Author: /time Magazine | Title: Can Democrats Pass Health-Care Reform on Their Own? | 7/9/2009 | See Source »

When the House of Representatives passed the American Clean Energy and Security Act on June 26, it was a landmark moment for environmental politics. If the bill passes the Senate to become law - no sure thing, given the 60 votes needed in the upper chamber - it would establish the first national caps on carbon emissions. It would also create what would almost certainly be the world's biggest greenhouse-gas market, since companies would have the option to buy and sell carbon credits and offsets. Every smart, efficient enterprise that can rapidly bring down its emissions will be able...

Author: /time Magazine | Title: Getting Your Slice of the Cap-and-Trade Pie | 7/7/2009 | See Source »

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