Word: cleanup
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Meanwhile, Bush's cleanup campaign is scrambling the assumptions of both Obama and John McCain. Bush's endorsement on July 18 of a "horizon" for withdrawal from Iraq has isolated McCain, who once said he favored a 100-year presence there. And so he backpedaled, calling a 16-month withdrawal plan supported by Iraq's Prime Minister a "pretty good" timetable. Bush's new tactics may complicate the calculations of Obama as well. Even a symbolic troop drawdown in Iraq before the election could depress antiwar sentiment among Obama's most loyal voters. Obama knows that as troops are withdrawn...
...Treasury Takes Charge Paulson doesn't disagree, and the legislation to backstop Fannie Mae and Freddie Mac - the government-created, shareholder-owned corporations that buy the bulk of U.S. mortgages and repackage them as securities - can be seen as the first big step toward Treasury's taking the cleanup job out of the Fed's hands. Fannie and Freddie owe or guarantee immense quantities of debt ($5.2 trillion, or almost as much as the Federal Government owes investors) but hold only tiny capital reserves to insure against losses. With house prices down 18% nationally since mid-2006 and defaults rising...
...reactor only half a mile away. They did not know then, and do not know now, whether they will return home in months or years. Or ever. On this and the following pages, TIME publishes the first photographs to appear in the U.S. of the ruined nuclear plant, the cleanup operation and the surrounding countryside. One of the few Americans who have seen Pripyat is Dr. Robert Gale, a bone- marrow specialist who helped Soviet doctors cope with the Chernobyl disaster, which so far has cost 26 lives. ''It's a very dramatic thing to see a partially destroyed nuclear...
...fight back against the unsightly scribbles. The legislators appear to be leaning toward an unusual solution: a 10 cents tax on every one of 12 million cans of spray paint sold in the city annually. Such a measure would provide as much as $1.2 million a year for cleanup efforts and education and prevention programs. Paint-industry officials, understandably upset at the idea, are lobbying against it. ''It's ridiculous to blame us simply because we make the product,'' says Rick Birle, president of Zynolyte Products, a major spray- paint manufacturer based in Carson, Calif. Nonetheless, the proposed spray...
Nearby, in rural Iowa City, cleanup recently began at Ted Thorn's house along the Iowa River, which took in over nine feet of water. "It was awful to see 20 to 30 years of stuff lying in your driveway," Thorn says, but adds, "that's over with. So we get to start over again." Thorn, who did have flood insurance, praises the disaster relief effort so far. "The folks that I've dealt with, although there's been no resolution, have been terrific," he says...