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Eastern Europe avoided the first wave of banking problems caused by the sub-prime mess, but as the global economy slows and credit dries up, there's plenty to cry about. Many of the region's capitals borrowed heavily to fuel the boom, and those bills are coming due. On Oct. 26, the International Monetary Fund (IMF) announced a $16.5 billion bailout for Ukraine, to prevent a run on its banks and shore up its currency. Three days later, the IMF agreed with the World Bank and the European Union on a $25 billion rescue package to restore confidence...

Author: /time Magazine | Title: The Baltic Mourning After | 11/6/2008 | See Source »

Congratulations, Mr. President-elect. And best of luck averting Depression 2.0! In the meantime, forgive me for reaching for the panic button: with unemployment expected to move into the double digits, I'm looking for a way to survive until you get us out of this mess. So here's what I'm thinking, and please do not tell my wife: I'm planning on turning my basement into a full-service karaoke...

Author: /time Magazine | Title: Karaoke 2.0 | 11/5/2008 | See Source »

...said Harry E. Brown. On the other hand, "the only reason I'd walk this far," he added, was for Barack Obama. "It's not because of the color of his skin - it's because of the change he will bring to America and bailing us out of this mess...

Author: /time Magazine | Title: Election Day Dispatches: It's Morning for the Kenyan Obamas | 11/4/2008 | See Source »

...past, exit-poll interviewers have oversampled Democrats. Remember 2004? Exit polls projected a John Kerry victory by 3%, while the official count had Bush winning by 2.5%. More recently, exit polls were a mess during this year's primaries, especially in Obama's case, as no one needs to be reminded. Today, this bias may be particularly strong, since Democrats are so gosh-darn exuberant about their candidate - and thus most likely to talk to exit-pollers...

Author: /time Magazine | Title: The Exit Polls: A Better Record This Time | 11/4/2008 | See Source »

...this year's expected high turnout could overwhelm the polling stations and complicate the process even more. "I'm always nervous," says Sheldon Gawiser, director of elections for NBC News, who has worked at the network for 40 years. "So many things can happen. The weather can be a mess. The computers and graphics can have a glitch. But quite frankly, I think we're really prepared. People will get mad at me for calling the primaries 'practice', but they just went on and on. We've gotten a lot of preparation from those races...

Author: /time Magazine | Title: How Will the Networks Make Their Calls? Carefully | 11/3/2008 | See Source »

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