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...equity? That wasn't in our computer model. It's not our fault"). Then there's the right way, which involves asking the questions that really matter: How did we get here? How do we get out of it? And what does all this mean for the average joe? So take a deep breath and bear with us as we try to explain how financial madness overtook not only Wall Street but also Main Street. And why, in the end, almost all of us, collectively, are going to pay for the consequences...

Author: /time Magazine | Title: How Financial Madness Overtook Wall Street | 9/18/2008 | See Source »

...strong, intelligent, attractive and determined mien, a reminder of the women pioneers who helped make the Western U.S. great. She's an ideal partner for McCain, one who will help bring this country back to the position of strength and idealism it has occupied in the world. Joe Chernicoff, Las Vegas...

Author: /time Magazine | Title: Inbox | 9/18/2008 | See Source »

...into their New Deal box but by reasserting their central role in the financial system. Glass-Steagall repeal can best be understood as part of this effort. So was 1994 legislation allowing interstate branching. This was a bipartisan movement: The Gramm-Leach-Bliley legislation passed the Senate 90-8 (Joe Biden was for it; John McCain didn't vote, but had supported the bill in an earlier roll call...

Author: /time Magazine | Title: While the Regulators Fiddled ... | 9/17/2008 | See Source »

...Joe Kennedy, scion of America's most famous political family and a wealthy investor in his day, told of selling his holdings before the 1929 market crash because a shoeshine boy had offered him stock tips. The story may well be apocryphal, but in the decades since, shoeshine boys have become a kind of insider's measure of how a market's doing. In the main shopping center in London's Canary Wharf financial district David Peralta is one such oracle, though not because he hands out investment tips...

Author: /time Magazine | Title: Wall Street Meltdown: Global Fallout | 9/17/2008 | See Source »

...responsible for global warming; two-thirds took exception to her opposition to abortion in all circumstances except when the life of the mother is in danger; and a majority did not share her support of the Iraq war. What's more, they overwhelmingly - 54% vs. 37% - say Joe Biden is better prepared than Palin to take over as President. "At the end of the day, this is going to be about Obama and McCain and change," says one top Obama aide. "The novelty of Sarah Palin will wear...

Author: /time Magazine | Title: Maxed-Out Moms: The Battleground Voting Bloc | 9/17/2008 | See Source »

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