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...Southeast Asia with international airports, abundant marine life and plenty of cafés serving espresso and freshly baked croissants - Bali and Phuket offer vastly different real estate experiences. First off, Bali is much cheaper than Phuket. Because the Indonesian island is so much larger than its Thai counterpart, Bali offers a wider diversity in terms of topography: verdant rice paddies, soaring volcanoes and several distinctive urban centers. The Indonesian island cherishes its deep cultural roots, with traditions interwoven into daily life, not manufactured for some cheesy ethnic show at a beach resort. But because of these bountiful customs, Bali...

Author: /time Magazine | Title: A Tale of Two Islands | 10/16/2008 | See Source »

...balance sheet. "It's immensely regretful we're coming to shareholders to raise funds again," said RBS chairman Tom McKillop. "It's something we feel bad about." So bad, in fact, that McKillop now plans to quit next year; RBS CEO Fred Goodwin resigned Monday, as did his counterpart at HBOS...

Author: /time Magazine | Title: Britain Sets Details of Huge Bank-Bailout Plan | 10/13/2008 | See Source »

...which was nationalized on Thursday. After the British government used antiterror legislation to freeze Landsbanki assets (these laws were simply "the most efficient mechanism available," a Downing Street spokesman explains), Iceland's Prime Minister Geir Haarde protested. "Not many governments would have taken that very kindly," he said. His counterpart in London appears unabashed. "We will take further action against the Icelandic authorities wherever that is necessary to recover the money," said Prime Minister Gordon Brown...

Author: /time Magazine | Title: Iceland: Britain's Credit Crunch Scapegoat | 10/10/2008 | See Source »

...unexpected turn. When the crisis intensified in mid-September, Washington acted quickly. There was a Treasury Secretary to devise and present a rescue plan, and a Congress - after an initial case of the vapors - to act on it. But there is no Hank Paulson in Europe, nor a precise counterpart to Federal Reserve Chairman Ben Bernanke. Jean-Claude Trichet heads the European Central Bank, but it cannot play the lender of last resort, as the Fed did on Sept. 16 by loaning $85 billion to prop up the U.S. insurance giant AIG. In Europe, governments must act instead...

Author: /time Magazine | Title: Gloat at Your Peril | 10/9/2008 | See Source »

...Washington two years ago. It included Kashkari's boss, Anthony Ryan, 45, the acting Under Secretary for Domestic Finance, who's been in charge of keeping track of all the new debt taxpayers have assumed recently, including open-ended loans to financial institutions and companies. They joined Kashkari's counterpart at the Office of Financial Institutions, David Nason, 38, who has been overseeing the titanic nationalization of Fannie Mae and Freddie Mac, as well as the broad new program insuring money-market funds announced Sept...

Author: /time Magazine | Title: Whiz Kid, Hot Seat | 10/9/2008 | See Source »

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