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...unlimited amounts of money three months at a time, sometimes with little or no collateral, a move unseen since the Great Depression. And at the Treasury, Paulson appointed a 35-year-old former Goldman Sachs banker as temporary head of the agency charged with using the $700 billion to lift bad loans out of the financial system. The banker, Neel Kashkari, immediately took bids from companies interested in running a market to price the bad loans. On Wednesday morning, in a surprising move, the Fed announced a half-point interest rate cut in unprecedented coordination with central banks in Asia...

Author: /time Magazine | Title: Are Paulson and Bernanke Running Out of Options? | 10/8/2008 | See Source »

...Clarke remains intent on providing them. “Like Levi, Mike just has so much pure speed and athleticism. I’m definitely excited to see what he can do,” Pizzotti said. Now that he’s back, Clarke will look to lift some pressure off of junior Matt Luft. “Luft will always be a top target for the defense, so my goal is to take that double team off of him,” Clarke said. And while Clarke will serve as a supporting role on the offense, he will...

Author: By Kevin T. Chen, CONTRIBUTING WRITER | Title: New Corps Steps Up in Time of Hurt | 10/8/2008 | See Source »

...them and not just the 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...

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

...part of preparations for constructing a Chinese space lab. Subsequent flights would carry up the lab components, though Johnson-Freese notes that if China want to launch a larger vehicle, like a space station, or send a manned flight to the moon, it needs to develop a heavy lift launch rocket, which could take up to a decade...

Author: /time Magazine | Title: China's New Venture in Space | 9/24/2008 | See Source »

...more they talk about their own war, their demands asking for more to be done, it has a very negative impact within the country. If the policy instead comes from parliament, even if it is diluted to some extent, it will be Pakistan's own policy. It will lift the morale of confused troops and can galvanize the support of the people...

Author: /time Magazine | Title: Zardari Tries to Keep His Distance from US | 9/24/2008 | See Source »

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