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...crisis has gripped the American economy, with equity markets roiling and credit markets seizing up, Washington went to the well once more, as a lame-duck President joined Democratic and Republican congressional leaders to ask Americans to trust them with a $700 billion Wall Street rescue package. But the well of trust had long run dry. Outraged calls overwhelmed Capitol Hill switchboards, and on Sept. 29 the bailout failed in the House, panicking the markets anew. Washington is still likely to find a fix for the credit crisis, but after a series of corruption scandals and a longer series...

Author: /time Magazine | Title: How They Failed Us | 10/2/2008 | See Source »

...they lose 10-15 seats, they will certainly be looking for new leadership, and that will create an internal battle within the party for the soul of the party," says James Thurber, director of American University's Center for Congressional and Presidential Studies. But with an unpopular lame-duck President, an even more unpopular Republican Party in Congress and a leadership vacuum at the top of the House, that soul search could be a very painful experience...

Author: /time Magazine | Title: The Bailout Spotlight Returns to the House — and John Boehner | 10/2/2008 | See Source »

...Shoot the Messenger If you want people to support the radical idea of rescuing rich investment bankers, don't send a rich, former investment banker (Henry Paulson) to convince them. And don't send a discredited, lame-duck President, either. As in normal life, people are more likely to believe the advice of someone they trust. There aren't many well-known experts in this field who aren't rich, but even Warren Buffett would have brought less baggage to the process than Bush...

Author: /time Magazine | Title: Why Aren't Americans Buying the Bailout? | 10/1/2008 | See Source »

When it comes to history, Spike Lee isn't one to duck a fight. Last spring the New York filmmaker set off a nasty public showdown with Clint Eastwood, whom he criticized for not depicting African-American soldiers in his recent World War II films about Iwo Jima...

Author: /time Magazine | Title: Spike Lee vs. the Italian Resistance | 10/1/2008 | See Source »

...political lame duck's views expressed in interviews and public comments reveal the sweeping reversals that have taken place among some of Israel's ultra-nationalists. Olmert says Israel should withdraw from "almost all" of the West Bank and Golan Heights. A former mayor of "the undivided capital of the Jewish state," he now advocates dividing Jerusalem with the Palestinians. He wants to keep some of the Jewish settlements that adjoin Israel's pre-1967 border but accepts giving the future Palestinian state Israeli territory in a land swap with a "close to 1-to-1-ratio." "The notion...

Author: /time Magazine | Title: Olmert's Lame-Duck Epiphany About Palestinian Peace | 9/30/2008 | See Source »

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