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...Paulson. For all the equity markets' sanguine response to the Hill, the credit markets are still seizing up. The process by which Paulson will actually use the $700 billion to buy the bad loans remains more than opaque. Sources familiar with his plans say he intends to structure some kind of reverse auction, where holders of the loans compete for the pool of money, pricing their loans as low as they can to still survive. But a slew of academic experts in auction theory have yet to determine exactly how to make that work. Nor is it a guarantee that...

Author: /time Magazine | Title: The Bailout Deal: Will It Fly in Congress? | 9/28/2008 | See Source »

...contrary to her claims, Michelle is not the first person of her kind I've seen; she's actually recognizable as a very particular type, though it took me until after the convention to figure out what that type is. I suspect this person will be familiar to anyone who has, in the past 25 years, been a young, college-educated woman in her first real job: you're, say, 22 and somewhat clueless, and you go to work in an office where there's a woman eight or 10 or 12 years older than you who's not only...

Author: /time Magazine | Title: What Michelle Obama Would Bring to the White House | 9/27/2008 | See Source »

...During our interview, I asked Michelle what accounts for the discrepancy between the admiration she inspires among such voters and the kind of blogosphere and talk-radio slurs that prompted the New Yorker, even if in jest, to run its notorious cover cartoon of her standing with her husband in the Oval Office, sporting an Afro and an AK-47. "I've realized that there are two conversations that go on," she said. "There's one at the punditry level - the polls, the writers, the folks in the know, they have one set of conversations - and then there's what...

Author: /time Magazine | Title: What Michelle Obama Would Bring to the White House | 9/27/2008 | See Source »

...five female newspaper columnists. As a professional black woman who grew up in a stable family and now has a stable family of her own, she told the columnists, "Sometimes I do feel as if people don't believe I exist. I'm probably the first person of my kind the nation has seen out there." Or, as Whoopi Goldberg put it during Michelle's June appearance on The View, "I have to say I'm really glad to see you because ... any time you see black folks on the news, particularly women, they have no teeth, and the teeth...

Author: /time Magazine | Title: What Michelle Obama Would Bring to the White House | 9/27/2008 | See Source »

...political spouses in recent memory, and even fewer First Ladies, have seemed this familiar. Take, for example, Laura Bush. I'm a fan of our current First Lady, in large part because she comes across as a truly kind, decent person. Her combination of obvious intellectual curiosity, compassion and total discretion intrigues me - so much so that I decided that the next best thing to knowing what someone like her thinks and feels would be imagining it. But if Laura inspires my affection and sympathy, I don't exactly relate to her, or I relate only to certain elements...

Author: /time Magazine | Title: What Michelle Obama Would Bring to the White House | 9/27/2008 | See Source »

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