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...Rafael Martín, the mayor of the town of Alameda de la Sagra, says he's most concerned about the impact of the slump on his neighbors, some of whom are already in difficult circumstances because their mortgage payments have jumped while their shifts have been reduced. "It doesn't just affect the people who work in the brick factories," he notes. "It affects the truckers who transport the bricks, and the mechanics who take care of the trucks, and eventually even the bars where those workers go for a drink. It's like the fish that bites...

Author: /time Magazine | Title: Now the Real Pain Begins | 10/16/2008 | See Source »

According to Rafael Martín, the mayor of Alameda de la Sagra, the town's coffers have seen a drastic reduction in income - from an average of $140,000 in recent years to $35,000 - as building license fees have dried up. Although he is determined not to cut social services, he predicts that some planned investments will be revisited in the coming year. "Instead of building a new traffic circle or installing new streetlamps all at once," he says, "we'll have to spread them out over two or three years." But he's most concerned about...

Author: /time Magazine | Title: Postcards from Europe's Financial Bust | 10/15/2008 | See Source »

...easily understand why being mayor of New York City might be a difficult job to give up. Michael Bloomberg is having a particularly difficult time dealing with his upcoming separation from mayoral power. For one thing, he has installed enormous countdown timers in several government offices that measure the time he has remaining in office (440 days, as of today). More insidiously, he is now proposing a change in city law that would allow him to run for a third term, claiming that the current financial crisis requires continuity in municipal leadership in New York. The current law regarding term...

Author: By The Crimson Staff | Title: The Term’s the Limit | 10/15/2008 | See Source »

...from the Angolan government during the mid-1990s. In the dock were such big names as Charles Pasqua, a former French Interior Minister; Jean-Christophe Mitterrand, the son of the late French President François Mitterrand; and Russian-Israeli billionaire Arkadi Gaydamak, who is currently a candidate for mayor of Jerusalem. The group is charged with having supplied almost $800 million worth of arms to Angolan President José Eduardo Dos Santos, including 12 helicopters, 6 naval vessels, 150,000 shells and 170,000 land mines...

Author: /time Magazine | Title: The Arms Trade Booms Amid Global Economic Woes | 10/14/2008 | See Source »

...wrong part of Brooklyn. He was struck by a car and killed as he tried to flee his attackers. Subsequently, a then obscure Baptist minister named Al Sharpton led a march through Brooklyn, a march that itself nearly led to violence. A few months later, New York mayor Ed Koch wrote a New York Times op-ed explaining that his "outrage" at the incident had led him to support hate-crimes laws. "Hate crimes, if not responded to, tend to undermine the tolerance necessary in our pluralistic society," he wrote...

Author: /time Magazine | Title: Viewpoint: What's Wrong with the Hate-Crimes Bill | 10/11/2008 | See Source »

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