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...What's more, to get many of these deals done, the FDIC has had to swallow the banks' riskiest assets. The FDIC now owns $15 billion in bank loans and other troubled debts, up from about $300 million at the end of 2006. In its most recent deal to sell California-based IndyMac to a group of private-equity investors, the FDIC agreed to shoulder as much as 75% of the bank's $16 billion lending portfolio in order to close the deal...

Author: /time Magazine | Title: Can the FDIC Handle Its Growing Job? | 1/19/2009 | See Source »

...merge the two events and brought the chaplain along to participate as well. But in a shrewd political maneuver, Roosevelt also opened up a second religious slot on the program for Father John Ryan, an influential figure in Catholic social teaching and a prominent supporter of the New Deal. As Mark Silk, professor of religion at Trinity College, has written, Ryan was not only known as "the Right Rev. New Dealer," but he was also the most effective critic of Father Charles Coughlin, the notorious right-wing, anti-Roosevelt priest. Ryan's participation in the Inauguration helped insulate Roosevelt against...

Author: /time Magazine | Title: Missing from the Inaugural Dais: Rabbis and Priests | 1/19/2009 | See Source »

...withdraw about half the 142,000 U.S. troops in Iraq within 16 months. In part, that's because Obama has said he will listen to commanders if they begin to feel the withdrawal is jeopardizing the uneasy peace there. But he has also benefited from the recently signed deal between Iraq and the Bush Administration calling for removal of virtually all U.S. troops from the country within three years...

Author: /time Magazine | Title: How Obama Is Wooing the Military | 1/19/2009 | See Source »

...means Merkel's return to the Chancellery is assured. The real question is whether Merkel will be able to form a coalition with the FDP or continue the so-called grand coalition with the left-leaning Social Democrats (SPD), he says. "Merkel believes that it would be easier to deal with the financial crisis if the SPD were locked into a grand coalition, but if there is a majority for coalition with the FDP she will grasp...

Author: /time Magazine | Title: Merkel Scores Big Win in Regional Election | 1/19/2009 | See Source »

...region is ready for a fresh start: the sheer fact that los yanquis elected a liberal African American as President has already done a good deal to alter Uncle Sam's image in Latin America, even among leftists. None other than Chávez said last month that "there are winds in favor of relations between the Venezuelan government and the new President of the U.S." Cuban President Raúl Castro has said much the same. The amiability turned sour this weekend, however, when Chávez, reacting to a new Univision interview with Obama in which the President...

Author: /time Magazine | Title: Latin America Looks for a Fresh Start with Obama | 1/18/2009 | See Source »

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