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...possible liquidity shock from the U.S. meltdown. "It's pretty clear that the tightening cycle in Asia is over," says Maguire. Tuesday's market tumble will likely convince policy makers "to be much more accommodating on policy immediately." That may be the only good news in a dark day for investors...

Author: /time Magazine | Title: Wall Street's Woes Hit Asian Markets | 9/16/2008 | See Source »

...talk seemed unable to summon much emotion, saying they remained in the dark about the firm's future. "We don't know what happens on the [executive floors]," says a 31-year-old analyst. After two years at Lehman, he arrived at work Monday morning without any idea of what might happen beyond what he read in the Wall Street Journal. "The really top execs screwed up very badly," he says. "They wouldn't admit defeat. They were macho. Absolute power corrupts absolutely - that kind of thing." Asked whether management had made any announcements on the firm's next steps...

Author: /time Magazine | Title: For Lehman Staffers, a Long Walk Home | 9/15/2008 | See Source »

...central bank also reduced reserve requirements for some Chinese banks, a step that could increase lending. Goldman Sachs economist Hong Liang commented that the moves "clearly signaled the central bank's intention to support growth" and "could provide some badly needed boost to investors' confidence." After a dark day on Wall Street, any bit of extra confidence could help...

Author: /time Magazine | Title: Asia Markets Face Rough Day Ahead | 9/15/2008 | See Source »

...lost custody of his child in an embarrassing court case and, now, as he enters a bank to try to cash a check, he finds it's been commandeered by robbers. The cops on the street figure Van Damme must have cracked and gone to the dark side, while the perps are only too happy both to exploit his fame and taunt him for being unable to overcome their guns with his kickboxing...

Author: /time Magazine | Title: Five Fast Takes from Toronto | 9/14/2008 | See Source »

...high on your car stereo. At first I thought it was the hurricane, but I could still hear the hum of the air conditioner and the faint noise of the storm coverage on TV. My mom and I looked out the windows and watched orange flames jump into the dark sky as Brennan's restaurant, a Houston institution, burned down...

Author: /time Magazine | Title: Riding Out Ike: What it Really Felt Like | 9/13/2008 | See Source »

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