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...exactly, is this bailout supposed to 'save' credit markets? Not entirely clear. Paulson and Bernanke described it as a way to jumpstart trading in mortgage securities for which there's no market at the moment, thus allowing banks to clean up their balance sheets and get back to lending. But a lot of economists outside government believe that the real problem is that lots and lots of financial institutions are insolvent--their losses, if they actually recognized them, are enough to wipe out their capital reserves. If that's true it would make more sense for taxpayers to give them...

Author: /time Magazine | Title: 18 Tough Questions (and Answers) About the Bailout | 9/30/2008 | See Source »

...thought it was the job of governments and central banks to step in and halt panics, but felt they should "always leave it uncertain whether the rescue will arrive in time or at all, so as to instil caution." That seems to be official U.S. government policy at the moment, actually...

Author: /time Magazine | Title: 18 Tough Questions (and Answers) About the Bailout | 9/30/2008 | See Source »

...have done a remarkably good job of sticking to their assignments. JPL handles most of the unmanned missions. Ames takes on what JPL can't, and often competitively bids against its downcoast colleagues. Huntsville focuses on rockets and propulsion systems. Canaveral still launches and Houston still takes over the moment the engine bells clear the tower. The Goddard Space Flight Center in Beltsville, Md., studies space science, investigating the chemistry and physics of the Earth, the solar system and the universe, most notably with the aid of the Hubble Space Telescope...

Author: /time Magazine | Title: NASA at 50 | 9/30/2008 | See Source »

...decide to write this book now? All I wanted to say was, Guys, trouble is coming and we've got to take serious constructive steps to deal with the moment we're in. Period. I swept the decks, took off from work, sat down in July and wrote roughly 30,000 words...

Author: /time Magazine | Title: Peggy Noonan | 9/30/2008 | See Source »

...unity. Can we emerge out of this Presidential campaign as a united public? I certainly hope so. Looking at Washington right now, you see a lot of Senators and congressmen who I think want to do the right thing, but feel themselves under serious pressure in a highly political moment...

Author: /time Magazine | Title: Peggy Noonan | 9/30/2008 | See Source »

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