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Just as Americans did with their houses, casino owners borrowed way too much money to build hotels that were way too big. Economists like Yale's Robert Shiller have warned that the next big wave of failures in the U.S. recession will be in commercial real estate - and once again, Las Vegas is headlining. Even worse, the bottom fell out as casino owners were building, so a number of them couldn't replace construction loans with the financing that was once readily available to complete and open hotel-condo-casino projects. Deutsche Bank foreclosed on the $3.9 billion Cosmopolitan Hotel...

Author: /time Magazine | Title: Less Vegas: The Casino Town Bets on a Comeback | 8/14/2009 | See Source »

...meantime, when I'm next visited by a kidney stone, I plan to ask for more than a quick death. I'll also request a cost rundown...

Author: /time Magazine | Title: The Case of the $12,000 Kidney Stone | 8/13/2009 | See Source »

...Izolde Bagayeva, 55, sits on a bench next to Fatima and talks about her family in Tbilisi. "When we talk on the phone, all we talk about is family. We never talk about politics because we don't want to argue," she says. "Just a few days ago I spoke to my aunt and she told me, 'You know, we're never going to see each other again.'" Bagayeva's eyes well up with tears, but, like so many in South Ossetia, she feels the sacrifice is one worth making: "We want a better situation at the border...

Author: /time Magazine | Title: In South Ossetia, Families Remain Torn Apart | 8/13/2009 | See Source »

Assuming he stays out of the ICC's reach, al-Bashir faces a public trial of a different sort next year: a presidential election. Insiders say he wants to step down but that those around him want him to stay for another term. "Political work in Sudan, as I see it, is not a comfortable task," he said. "It is tiring, exhausting and with great responsibilities. I used to tell some Presidents whose periods had ended that the best thing is to be a 'former President' - someone who is respected, appreciated and without any responsibilities." Andrew Natsios...

Author: /time Magazine | Title: Omar al-Bashir: Sudan's Wanted Man | 8/13/2009 | See Source »

...nearing the end of her 11-day, seven-country trip around Africa, praised all that Johnson Sirleaf has accomplished, and deftly dodged repeated media inquires about the U.S. position on a recent report that publicly sanctions the President and recommends she not serve in government for the next 30 years because of her early association with warlord Charles Taylor, now on trial for war crimes committed in Sierra Leone. On several occasions, Clinton made reference to the fact that many in today's Liberian government played dubious roles during the war. While addressing the legislature, she said, "I know some...

Author: /time Magazine | Title: Clinton Bolsters Liberia's Embattled President | 8/13/2009 | See Source »

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