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...almost certainly history, and households across the capital will have to tighten their belts and live with a lot less leverage; the banking crisis has already made it considerably harder for house buyers to get mortgages of any sort, let alone ones requiring only a tiny down payment. Jon Lloyd, joint head of LG's real estate practice, points out that the investment-banking mentality of the past few years - ever bigger fees for ever more complex transactions - has spread to all sorts of businesses, from law to real estate. He wonders whether that's all about to change. "Will...

Author: /time Magazine | Title: London's Gathering Storm | 10/9/2008 | See Source »

...campaign trail. Edwards, a popular Democratic incumbent in President George W. Bush's home district, was one of nine Representatives out of Texas' 32-person delegation to vote for the bill. (Even four of the five Texas Republicans whom Bush called personally voted against it.) Meanwhile, Democrat Lloyd Doggett, from the Austin area, has found himself in the unusual position of being hailed by liberals and conservatives alike for voting against the bill. His Austin district office had been bombarded with e-mails and phone calls in opposition to the bill. Most Texans don't see any real signs...

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

...experts say, is to make candidates comfortable going up against rivals - and not just rhetorically. "For Dan Quayle I put on a golf sweater, put a golf tee behind my ear and twirled a putter," says former Ohio Rep. Dennis Eckart, who worked with Democratic Vice Presidential candidates Lloyd Bentsen in 1988 and Gore in 1992. "It broke the tension...

Author: /time Magazine | Title: The Art of the Debate Stand-In | 9/26/2008 | See Source »

Before Quayle's infamous 1988 debate with Lloyd Bentsen, stand-in Bob Packwood assured Quayle that Bentsen was a courteous man who wouldn't be rough on the young Senator, Schroeder says...

Author: /time Magazine | Title: The Art of the Debate Stand-In | 9/26/2008 | See Source »

...Right before the markets began to unravel last year, Lloyd Blankfein, chief executive of Goldman Sachs, presciently quipped that he hadn't "felt this good since 1998," referring to the Wall Street wipeout precipitated that year by Russia's defaulting on its ruble debt. Blankfein argued that confidence in global markets had built up to a dangerously giddy level and that investors weren't being compensated for assuming outsize risk in securities like esoteric bonds and Chinese stocks. Blankfein was right, of course, but even he wasn't paranoid enough. Though Goldman stands, along with Morgan Stanley...

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

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