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...Under the current plan being hawked by Paulson and the Bush administration, that astronomical sum would be used to buy up bad debt from ailing institutions in order to clean up their balance sheets. The criticisms of the plan are legion, but one irksome feature is that the banks that made the worst mistakes are in line to get the most help, providing little incentive for future managers to mend their ways. And all taxpayers would get for their rescue money is a mountain of toxic loans of highly dubious value...

Author: /time Magazine | Title: Sweden's Model Approach to Financial Disaster | 9/24/2008 | See Source »

...magazine include several nudie shots of the editor (pages 33 and 37 for frontal, 35 for a rear shot), but it also includes an interview with di Pasquale, conducted by... himself. Among other self-declarations in the interview, di Pasquale says, “I’m clean. I get tested four times a year. It’s free. And I use condoms.” Sweetie, don’t you think it would be easier to just place a personal ad somewhere? The magazine’s first issue also includes an interview with a recent...

Author: By Julia M. Spiro, CRIMSON STAFF WRITER | Title: Hate it: Diamond Magazine | 9/24/2008 | See Source »

...skeptical members of Congress, the Treasury Secretary seemed certain he'd get the massive new powers and huge sums of money he's asking for, despite the feverish horsetrading and recriminations still unfolding on the Hill. "I believe we're going to get a bill that works and a clean bill," he told TIME. "It certainly won't be exactly what we asked for, it never is, but it's got to be sufficient to let us do the job." And Paulson thinks he'll get it soon. "We're right in the period where the sausage is being made...

Author: /time Magazine | Title: Paulson: 'I Believe We're Going to Get a Bill That Works' | 9/24/2008 | See Source »

Once again it's about the economy, stupid - and financial markets and how they are best regulated. There will also be discussion of whether anyone on Wall Street will be forced to pay a price for the wreckage taxpayers are now being told they will have to clean up. That shift should benefit Democratic nominee Barack Obama for many reasons, as economics in difficult times rarely help Republicans. But this race has proved conventional wisdom wrong time and again. What seems more certain is this: though virtually no one was calling for it, a new era of big government...

Author: /time Magazine | Title: After the Financial Crisis, a Cleanup That Changes Everything | 9/22/2008 | See Source »

Nestled in the vineyards and rolling uplands east of Vienna, the town of Neusiedl am See is celebrated for its wine taverns, fine fish restaurants and water sports. Geraniums peak from window boxes; the cobblestone streets are meticulously swept clean each morning. The only thing the casual visitor might find mildly unnerving is the squawk of storks from their huge nests on the old town's chimney tops...

Author: /time Magazine | Title: Austria's Far Right on the Rise | 9/19/2008 | See Source »

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