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...there are sometimes hidden costs in the fine print, interest payments not due for months, especially when the outrage is calculated for maximum political effect. And that outrage came back to haunt Barack Obama Wednesday when Jim Johnson, the man running his vice presidential search team, stepped down after the Wall Street Journal reported that he had received preferential deals on mortgages because he was friendly with an executive at Countrywide Financial, which has been tied to the subprime foreclosure crisis. "Jim did not want to distract in any way from the very important task of gathering information about...

Author: /time Magazine | Title: The Outrage Game Bites Obama | 6/11/2008 | See Source »

...Gwat, the riots were a fitting reaction. He believes that along with the rise in prices, the quality of fuel at many gas pumps has plummeted. "Our fuel is not fine," he says. "They have started to mix in kerosene. It damages the engines." The managers of two Texaco stations in Yaoundé refute Gwat's claim. Not even the finest fuel would have spared Gwat's taxi the ravages of years of chugging along rutted dirt roads and up and down Yaoundé's muddy hills in the tropical humidity and pounding rainstorms. It requires several runs...

Author: /time Magazine | Title: Navigating a Real Oil Shock | 6/11/2008 | See Source »

...action. Presidential leadership was the missing ingredient in the bill that just crashed and burned, but getting a good bill through Congress is no sure thing even when the President is engaged. And calling climate legislation inevitable is risky because it implies that the current tactics are working just fine and that a cap on carbon will be achieved as part of the natural course of events in Washington, without a titanic struggle or a new approach or the active involvement of the American public. Some of the best political minds in the field - Al Gore, for one - believe that...

Author: /time Magazine | Title: Why the Climate Bill Failed | 6/9/2008 | See Source »

...once a leading supplier of condoms in the Philippines, is phasing out their contraception program, and some worry other groups will follow. "They are saying that contraceptives should be sold, not distributed for free," says Suneeta Mukherjee, a representative for the the United Nations Population Fund. ?This is fine, but there is no safety net for the poor...

Author: /time Magazine | Title: The Philippines' Birth Control Battle | 6/6/2008 | See Source »

...three years before the polio vaccine was available, I was a 33-month-old toddler. I took a nap with my 5-year-old cousin. When we woke up, she was fine, but I had a fever, was in terrific pain and could not walk. After rushing me to the hospital and seeing me go through two spinal taps, my parents heard the dreaded diagnosis: polio. I had paralysis in both legs, my back, right arm, diaphragm and lungs. I spent the next four months in the hospital until I was miraculously able to breathe on my own again. Ahead...

Author: /time Magazine | Title: Inbox | 6/5/2008 | See Source »

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