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...also reportedly looking into applying for a Treasury investment. The troubled finance unit of industrial giant General Electric could receive as much as an $18 billion investment. What's more, a number of members of Congress are pushing for TARP funds to be used to aid troubled automakers. President-elect Barack Obama has said that he favors lending federal financial assistance to Chrysler, Ford and GM. And, like AIG, a number of large insurance companies may soon ask for a piece of the remaining bailout fund as well...

Author: /time Magazine | Title: The Bailout Fund — Running Out of Cash | 11/12/2008 | See Source »

...motives have been harshly questioned on Capitol Hill and by the press. And he's just tired. He gave off the vibe today that he might just be counting the days until he gets to hand off the whole mess to Larry Summers, Tim Geithner or whoever President-elect Barack Obama chooses to succeed him. (Read more about TARP...

Author: /time Magazine | Title: Paulson: Near The Finish Line, And Looking Like It | 11/12/2008 | See Source »

Around the globe, people cheered the momentous election of Sen. Barack Obama as president of the United States—perhaps it was the triumph of hope, perhaps the closing of a flawless public relations campaign or, more realistically, a little bit of both. Either way, the results last Tuesday convinced millions that “change is coming,” not only within America, but also in relations between the U.S. and other nations. As the president-elect and his transition team seek to temper expectations around the many hot issues that decided the election, what should...

Author: By Pierpaolo Barbieri | Title: What to Expect... | 11/12/2008 | See Source »

...global hot spots. And the ship's sad plight represents in miniature all that is wrong with the way the Pentagon buys its weapons. The pattern of haste and waste accelerated in the Cold War's wake and simply exploded following 9/11. It highlights the challenge facing President-elect Barack Obama as he contemplates retooling an Industrial Age military - primed for state-on-state warfare - into the more agile force better suited for 21st century conflicts of the type now being waged in Afghanistan and Iraq. (See the top 10 news stories...

Author: /time Magazine | Title: The Navy's Floating Fiasco | 11/12/2008 | See Source »

...President, I will close Guantánamo," Barack Obama promised in 2007. Now, as President-elect, shutting down the infamous prison camp he referred to as a "sad chapter in American history" is shaping up as one of his first priorities...

Author: /time Magazine | Title: A Brief History of Gitmo | 11/12/2008 | See Source »

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