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...revealing an additional $63 billion aid package to Britain's top three banks Monday, Prime Minister Gordon Brown similarly tabled a document detailing the plan, which noted beneficiaries must maintain "over the next three years, the availability and active marketing of competitively priced lending to homeowners and to small businesses at 2007 levels". Such vivid expectation isn't limited to France and Britain. In virtually all countries whose financial systems are being bailed out by the state, governments are beginning to apply pressure for credit to finally being circulating again...

Author: /time Magazine | Title: World Markets Stabilize, but Recession Fears Grow | 10/15/2008 | See Source »

...Everyone has his day, and some days last longer than others." Winston Churchill's aphorism resonates for his 21st century successor, Gordon Brown. Just weeks ago the British Prime Minister looked fist-clenchingly impotent as insurrection bubbled in Labour's ranks and his Conservative opponents thumbed their noses from the safe distance of a 20-point poll advantage. Then came convulsions in the global economy. The scramble to avert meltdown drove Labour rebels into retreat, halved the Tory lead and granted Brown more than just a reprieve from domestic woes. As Congress bickered over the U.S. bailout and European leaders...

Author: /time Magazine | Title: Flash Gordon Brown | 10/15/2008 | See Source »

Though Britain is not part of the group that uses the euro, British Prime Minister Gordon Brown revealed a further pledge of $63 billion to partially nationalize the country's three biggest banks - a follow-through of his earlier approach that inspired the euro-zone plan. Ironically, Brown's quickness to act and sound tactics imbued the leader of Europe's most economically liberal and U.S.-inspired economy with the moral authority to urge his peers toward reform and greater regulation of their capitalist systems. On Tuesday Brown called for new international rules on trade, saying, "We must now create...

Author: /time Magazine | Title: Surge in Global Markets Reflects Growing Hope | 10/14/2008 | See Source »

Still, similar assertions were made about Vitamin E in the 1990s before elevated doses were associated with a higher incidence of lung cancer. Nonetheless, at 400 IU, Gordon says, "The AAP's new guidance can only lead to healthier kids...

Author: /time Magazine | Title: Kids Aren't Getting Enough Vitamin D | 10/13/2008 | See Source »

...allow national governments to buy preferred shares through capital injections to save swamped banks from failing, and allowing those in less perilous condition to fully sanitize their finances and return to normal operation. As such, the euro group plan was largely inspired by the rescue package British Prime Minister Gordon Brown rolled out the previous week, which matched $438 billion loan guarantees with up to $88 billion in capital investments to save troubled banks from failure. On Monday, the U.K. government said it would spend up to $63 billion in additional funds to take substantial stakes in three...

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

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