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...done "off the books" in an effort to minimize its apparent scope. The Treasury will consult with experts to figure out "mechanisms for buying assets and from whom to buy," Paulson said Tuesday. "We do not know exactly what the best design is." But it's leaning toward conducting "reverse auctions" in which the Treasury would, for example, buy $1 billion in bad mortgages from whichever institution would take the least amount of money for them. On the other hand, the Treasury initially asked for a virtual blank check in how it would conduct the bailout, including guarantees that...

Author: /time Magazine | Title: 7 Questions About the $700 Billion Bailout | 9/24/2008 | See Source »

CERN spokesman James Gillies called the fault a "teething problem" and said that previous accelerators that used superconductivity - i.e., low temperatures that allow metals to conduct electricity without resistance - also faced early problems before "running pretty smoothly after they were sorted out." Even so, "it's certainly a disappointment," he added...

Author: /time Magazine | Title: Why The Large Hadron Collider Is Already On The Fritz | 9/22/2008 | See Source »

...indict Olmert for suspected fraud and bribery. The attorney general has yet to issue the indictment, and Olmert's lawyers say he is innocent. Nevertheless, his long career in politics, from Jerusalem mayor to cabinet minister to Prime Minister, appears to be finished. As Haaretz editorialized: "His personal conduct, which reflected his hedonism and greed, shadowed his performance as Prime Minister." It's now up to Livni to see if she can create a new government from the remains of Olmert's tattered legacy...

Author: /time Magazine | Title: What Olmert's Resignation Means for Israel | 9/22/2008 | See Source »

Jeremy D. Hoon ’10 was arrested for three counts of assault and battery on a police officer, assault on another individual, disorderly conduct, and resisting arrest early Saturday morning, according to the Harvard police...

Author: By Michal Labik, CRIMSON STAFF WRITER | Title: Student Arrested After Altercation | 9/18/2008 | See Source »

...military says killed up to 20 people including civilians, triggered angry criticism across Pakistan. As the protector of his country's sovereignty and nervous about rising anti-American sentiment, Pakistan's army chief issued an unprecedented warning in response to the raid. "No external force is allowed to conduct operations inside Pakistan," Gen. Ashfaq Parvez Kayani said. The statement was cheered by an anxious public and, in a sign of the military's influence, it was echoed by leading members of the government who had, until then, been reluctant to speak on the issue...

Author: /time Magazine | Title: Pakistan vs. US Raids: How Bad a Rift? | 9/18/2008 | See Source »

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