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...happening now is really better described as a sorting out. The big banks in the most trouble are going to have to accept ever greater government ownership and control of their affairs. The ones in the least trouble are going to try to run away from the feds as fast as they can. (See 25 people to blame for the financial crisis...

Author: /time Magazine | Title: The Beleaguered Banks Get Ready for Their Big Test | 2/24/2009 | See Source »

...Next thing we heard was "Brace for impact!" - a phrase I had heard many years before as an active duty Marine officer but never before on a commercial air flight. Everyone looked at each other in shock. It all happened so fast we were astonished...

Author: /time Magazine | Title: From Park Avenue to the Hudson: A Flight 1549 Diary | 2/24/2009 | See Source »

...Fast Facts...

Author: /time Magazine | Title: Stimulus Watchdog Earl Devaney | 2/24/2009 | See Source »

...setbacks are humbling to a company that not long ago was setting a fast pace. Tata Motors' trucks have been ubiquitous on Indian roads for decades. In recent years, it had captured a larger share of the domestic car market with the Tata Sumo and the Indica, India's first domestically developed car. Tata's cars, buses and trucks are sold in Europe, Africa, the Middle East, Australia and parts of Asia. The company bought South Korea's second largest truckmaker, Daewoo Commercial Vehicles, in 2004; a year later is acquired a 21% stake in Hispano Carrocera, a Spanish...

Author: /time Magazine | Title: India's Top Automaker, Tata Motors, Hits a Rough Patch | 2/24/2009 | See Source »

...important from the unimportant," says Joaquin Perez, a Miami-based lawyer who defends accused Colombian traffickers. Many of those caught in the net are small-fry - like the smuggler's driver, the document forger or the guy who prepared the box lunches for the crews of the go-fast boats. Once in U.S. custody, many high-level smugglers do cop pleas and then turn on one another, allowing prosecutors to weaken their organizations, says Josh Levine, former chief of the international narcotics trafficking unit of the U.S. Attorney's office for the southern district of New York. Prosecutors also note...

Author: /time Magazine | Title: Colombia's Drug Extraditions: Are They Worth It? | 2/24/2009 | See Source »

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