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Lawyers didn't invent the insanity defense for guys like Rod Blagojevich, but it may soon come in handy. As recently as last month, the leather-jacket-wearing Illinois governor imagined himself as a potential candidate for President in 2016. Meantime, he said, he wouldn't mind getting a Cabinet post, an ambassadorship or even a high-paying corporate gig. Driving these fantasies was his statutory power to name a replacement for former Senator Barack Obama - a power that to Blagojevich seemed like money in the bank. "I've got this thing, and it's f______ golden," he told...

Author: /time Magazine | Title: Governor Gone Wild: The Blagojevich Scandal | 12/11/2008 | See Source »

...Selected in 2003 to find out who leaked the identity of CIA operative Valerie Plame to the press less than a month after indicting then-Illinois Governor George Ryan for selling illegal state licenses. Ryan is currently serving a 6-year prison term; Bush commuted I. Lewis "Scooter" Libby's 30-month prison sentence...

Author: /time Magazine | Title: Patrick Fitzgerald | 12/11/2008 | See Source »

...Millionaire Fair late last month, even the glare off the hood of a $250,000 Wiesmann MF4 supercar could not blind a visitor to the fact that there was far less interest on both sides of the cash register. A glitzy show designed to part Russia's well-to-do from their cash, the fair is usually spread out through three halls in Moscow's Crocus Expo center - this year it took up only two. With fewer vendors and wider aisles between the stands, the small number of visitors seemed even more sparse. "There are much fewer people this year...

Author: /time Magazine | Title: Gloom Time for Moscow's Millionaires | 12/11/2008 | See Source »

...latest trade data show that sustaining China's economic boom over the next year will prove arduous if not impossible. Last month China's exports, a major driver of the world's fourth-largest economy, fell by 2.2% compared with November, 2006. The result marked the country's first decline in exports in seven years and was a sharp reversal of the double-digit growth rates manufacturers have typically posted in recent years. The drop was "a shock figure," says Ben Simpfendorfer, the Hong Kong-based chief China economist for the Royal Bank of Scotland. "I had expected exports...

Author: /time Magazine | Title: China's Exports Unexpectedly Fall | 12/11/2008 | See Source »

...recent weeks Chinese officials have suggested that the immediate picture for the country could be bleak. "In this coming period, we will starkly confront the effects of the sustained deepening of the international financial crisis and pressure as global economic growth clearly slows," Chinese President Hu Jintao acknowledged last month...

Author: /time Magazine | Title: China's Exports Unexpectedly Fall | 12/11/2008 | See Source »

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