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...emergency lending window. It has lowered interest rates to zero. Treasury has put $25 billion into each of the money center banks. It is now backing over $300 billion in bad assets held by Citigroup (C) through a loss-sharing agreement. Bank of America (BAC) is getting a similar deal. The programs to back bad assets is almost certainly going to spread. (See pictures of TIME's Wall Street covers...

Author: /time Magazine | Title: Building A $1 Trillion "Bad Bank" | 1/17/2009 | See Source »

...cowboy boot lamp, ceiling canoes, an abundance of wood and a Native American statue, are all part of the rustic theme in this two-barred joint, laden with pool tables, shuffleboards and small tables. While the bar hasn't prepared anything special for inauguration weekend - besides an extended hour deal - they expect a huge crowd, of both regulars and passerbys. If you're seeking out a hearty burger, a stimulating game of darts, or a bustling joint with an iTunes juke box and multiple gigantic televisions tuned to a variety of sports channels, stop by with a group of friends...

Author: /time Magazine | Title: A D.C. Club Guide for Inaugural Weekend | 1/17/2009 | See Source »

Scenario 3: The Guns Go Silent Without a Formal Truce If the offensive cannot deal Hamas a death blow, Israel may see benefit in holding its fire, in line with the first phase of the Egyptian plan but not necessarily concluding a comprehensive cease-fire. It would simply maintain the halt to hostilities and even withdraw its forces on an open-ended basis. Israeli leaders saw Operation Cast Lead as an opportunity to restore Israel's "deterrent" power, which it believed had been damaged when it was fought to a draw by Hizballah in Lebanon in 2006. But the Gaza...

Author: /time Magazine | Title: How the Gaza War Could End: Three Scenarios | 1/16/2009 | See Source »

...Egypt and Israel into Gaza be reopened. Those crossings have been closed as part of a strategy of imposing economic deprivation on the people of Gaza in the hopes that they would turn on Hamas; Israel remains reluctant to agree to reopen them as part of a cease-fire deal, since that would be claimed as a victory by Hamas. Hamas also insists on a full and immediate withdrawal of all Israeli forces from Gaza; Israel is reluctant to comply until mechanisms are in place to prevent Hamas from rearming...

Author: /time Magazine | Title: How the Gaza War Could End: Three Scenarios | 1/16/2009 | See Source »

...estimated to have close to 20,000 men under arms in Gaza, of whom Israel claims to have killed no more than 2.5% so far.) That would force Israel to reoccupy a territory from which it sought to separate in 2005. Still, Israeli leaders hope the military operation can deal a powerful enough blow to hobble Hamas. They still wish to see Abbas' authority reimposed as part of any truce. More realistically, perhaps, Arab mediators and the U.N. Security Council have urged that cease-fire plans restore reconciliation between Abbas and Hamas. Arab countries had previously brokered a national-unity...

Author: /time Magazine | Title: How the Gaza War Could End: Three Scenarios | 1/16/2009 | See Source »

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