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...England - Britain's lender of last resort - to buy high-quality assets directly from financial institutions as well as other companies. An existing $370 billion plan granting a government guarantee on bonds issued by banks, earmarked to close in April, was extended to the end of 2009. And Northern Rock, the mortgage bank crippled by the credit crisis and nationalized in 2008, will abandon plans to wind down its mortgage book, the government said, and instead boost funds available to home buyers. (Read "Four Steps to Ending the Foreclosure Crisis...

Author: /time Magazine | Title: Gordon Brown Rescues British Banks — Again | 1/19/2009 | See Source »

...minutes from the time flight 1549 struck what is now believed to be a flock of birds and when it touched water, the two pilots in the cockpit were tasked with deciding what options they had as they glided dangerously over northern New York City. The choice of landing in water likely seemed the best option considering those circumstances. Pilots are trained to bring planes in for a smooth landing on water the same way that they would on land, keeping landing gear stowed to make the plane more boat-like. They also have different ditching checklists depending on whether...

Author: /time Magazine | Title: Learning from Flight 1549: How to Land on Water | 1/17/2009 | See Source »

...however, the lager and the laughter stopped flowing. Forty villagers watched the television mounted in the bar silently as Geoff Hoon, the nation's Transport Secretary, announced that he had approved plans for a third runway at London's Heathrow Airport. For Sipson, which sits on the airport's northern perimeter, it's nothing short of annihilation: the village's 700 homes and businesses must now be razed to make way for 7,200 feet of tarmac...

Author: /time Magazine | Title: Heathrow's Expansion: A New Kind of Blitz in England | 1/17/2009 | See Source »

...curtains lets in a sudden puff of salty air. Wyeth is moved. Abruptly glimpsing his own reflection in a dusty mirror leads to an unexpected 1949 self-portrait, The Revenant, where he stands perplexed and unbalanced in an abandoned room. The amber glass ball on a lightning rod in Northern Point looks to him "as if it were spinning in mid-air." And after four days of straddling the roof top and examining it with his feverish watercolor brush, Wyeth slowly turned to recapture in tempera that first instant of surprise...

Author: /time Magazine | Title: TIME Cover: Andrew Wyeth's World | 1/16/2009 | See Source »

...master's degrees, one in industrial psychology from Purdue University (1973) and one in public administration from the University of Northern Colorado...

Author: /time Magazine | Title: Chesley B. Sullenberger III | 1/16/2009 | See Source »

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