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...avoid a similar fate. Then, having sworn off bailouts by letting Lehman fail and wiping out its shareholders, the Treasury and the Fed reverse course for an $85 billion rescue of creditors and policyholders of American International Group (AIG), a $1 trillion insurance company. Other once impregnable institutions may disappear or be gobbled...

Author: /time Magazine | Title: How Financial Madness Overtook Wall Street | 9/18/2008 | See Source »

...poll numbers generated by the emergence of Sarah Palin as a GOP superstar, it's no wonder that many Democrats are already hitting the panic button. The Obama campaign, however, isn't sounding any alarms, and it's not just because it believes the post-convention glow will disappear soon enough and voters will get back to focusing on issues more than personality. Much of its confidence stems from a tactical advantage on the ground it showcased to great effect in the primary battle with Hillary Clinton, one which it believes could be the deciding factor in the general election...

Author: /time Magazine | Title: Obama Banks on the Ground Game | 9/10/2008 | See Source »

...focus right now should be simple: better levees for New Orleans and real restoration of the coast. Southern Louisiana began to disappear after the Corps imprisoned the Mississippi River and converted it into a barge channel that stopped depositing sediment into its Delta; satellite images of this spring's floods showed the river wasting huge plumes of sediment out to sea, sediment that could be diverted to restore coastal marshes and rebuild barrier islands. There is already $1 billion worth of small projects on the books to start that process, but restoration work is moving much, much more slowly than...

Author: /time Magazine | Title: Gustav's Lessons for New Orleans | 9/4/2008 | See Source »

Mexico's Cocaine Chaos Drug violence in Mexico is a consequence of the misguided war on drugs and the fact that drugs are illegal in the first place [Aug. 25]. If drugs were legalized, the profit incentive for criminals and the attendant violence would largely disappear. This would also leave the fighting of drug abuse to medical and social-welfare professionals and free law enforcement to deal with real criminals instead of those deemed criminals solely through the idiosyncrasies of the law. Stephen V. Gilmore, CHARLOTTE...

Author: /time Magazine | Title: Pointing Fingers over Georgia | 9/2/2008 | See Source »

...problem with silver linings, though, is that they disappear as fast as the clouds they surround. Gustav's negligible impact and early demise meant that the GOP couldn't cancel Bush completely - throwing a sitting President under a bus must be done discreetly. So they've settled for the next best thing: a very short speech via satellite by the President from the White House tonight around 9:30 p.m. E.T. Bush will speak for all of eight minutes, thanking Republicans for their backing over the years and urging them to work hard to help elect McCain...

Author: /time Magazine | Title: McCain Keeps Bush at a Safe Distance | 9/2/2008 | See Source »

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