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...Given the immensity of the crisis, a Congress-approved bailout may be just a short-term fix. But a short-term fix is better than no fix. If nothing else, it would signal to the world that - unlike in 1930 - the U.S. is doing what it can to avoid financial calamity and sidestep Depression...

Author: /time Magazine | Title: The End of Prosperity? | 10/2/2008 | See Source »

...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 of gaps between deeds and words, its own credibility crisis might take longer to repair...

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

...when the Paulson proposal came up, she immediately wrote a letter to the local paper to voice her opposition. "A $700 billion bailout I feel is going to my grandchildren. They're going to inherit that. I don't think it's going to solve the problem. It may fix it for a while. I don't trust the government to do what they say they're going to do." She says, "I'm no genius [but] it's basically a mortgage crisis, [so] work with the homeowners and renegotiate their loans and work out something where they can make...

Author: /time Magazine | Title: Why Main Street Is Mad: Scenes from a Financial Crisis | 10/1/2008 | See Source »

...Beach Mall, 17-year-old Jay Johnson lets his black shirt drape over dropped shorts. "My dad and my mom don't like it," he says. "You gotta listen to your parents. And I know it's hard to find a job with your pants down low, so you fix them." Some who are against the fashion argue there is no need for a fashion police, despite sagging's association with gangsta...

Author: /time Magazine | Title: A Saggy-Pants Furor in Riviera Beach | 10/1/2008 | See Source »

...lobbyists whispering in their ears. Just as this campaign has focused attention on electoral politics as never before, so did this crisis draw all eyes to Washington and how it works - and no one much liked what they saw. A government that could not lift a finger to fix health care or highways could suddenly find $700 billion for No Banker Left Behind? And so this time, people made themselves heard: they passed petitions, lit up the phone lines, melted the message boards. In an age of poisonous partisanship, it was like an antitoxin, the country drawn together...

Author: /time Magazine | Title: The Candidates' Test of Leadership | 9/30/2008 | See Source »

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