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...pour up to $150 billion into the economy in the form of massive construction projects, grants to states and additional aid for food stamps and unemployment benefits. Some are calling it "Plan C," coming in the wake of "Plan A" - the Wall Street rescue package - and "Plan B," the effort now underway to recapitalize ailing banks and get credit, the lifeblood of economic health, flowing again. Both of those plans are to be funded by the $700 billion rescue package Congress recently approved. The stimulus would be the second such bill this year, following a $160 billion economic package that...

Author: /time Magazine | Title: The Dems' Plan C for the Economy | 10/14/2008 | See Source »

...Monday, Treasury Secretary Henry Paulson, Federal Reserve Chairman Ben Bernanke and FDIC chairwoman Sheila Bair announced a widely expected effort to inject $250 billion in government funds into the troubled U.S. banking system. The goal: to get banks lending again and keep the economy from grinding to a halt. The funds will come out of the $700 billion bailout package already passed by Congress...

Author: /time Magazine | Title: Another Try: Will Treasury's New Rescue Plan Work? | 10/14/2008 | See Source »

...scandal to the Alaska Legislative Council, affirming Monegan's accusations that the governor had abused her power and acted unethically. Branchflower found that Palin had violated a statute of the Alaska Executive Branch Ethics Act, which states that "each public officer holds office as a public trust, and any effort to benefit a personal or financial interest through official action is a violation of that trust." Branchflower went on to say that Palin was within her right as Governor to fire Monegan, but by allowing the personal matter with Wooten to contribute to her decision, she had done wrong...

Author: /time Magazine | Title: Troopergate's Walter Monegan | 10/14/2008 | See Source »

...Over his 27-year tenure, Pope John Paul II named more saints than all his predecessors combined, beatifying more than 1,300 people and canonizing nearly 500. He fast-tracked Mother Theresa's canonization, and made a distinct effort to identify saints in Africa and Asia. In 2000, much to the chagrin of the communist government there, John Paul II canonized the first saints in China, naming 87 Chinese citizens and 33 foreign missionaries who had died in the country between 1648 and 1930. He also named the first saint from Brazil, home to more Catholics than any other country...

Author: /time Magazine | Title: Sainthood | 10/13/2008 | See Source »

...Though the common rules adopted under the euro-group plan will still be applied at the national level at the discretion of individual governments, the action marks the first concerted effort to address the chaos in Europe following weeks of dislocated, often controversial responses by each country on a case-by-case basis. In announcing their plan, Sarkozy and his partners applauded both its comprehensive scope and the unity of support it enjoys...

Author: /time Magazine | Title: European Markets Rise in Relief | 10/13/2008 | See Source »

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