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...morning on how Britain's banking sector had got into such a parlous state that the government was compelled to spend up to $88 billion in taxpayers' money to secure it. Their emergency rescue plan was hatched over weeks but finalized in such a hurry that bleary officials labored overnight to finish it before the skittish markets opened. At a morning press conference, both men maintained that the problem started with the U.S. sub-prime crisis; Brown refused to answer questions about how Labour policy over more than 10 years in office might have contributed to the situation. "This...

Author: /time Magazine | Title: British Bank Bailout: Is It Enough? | 10/8/2008 | See Source »

...most prominent banks, including Morgan Stanley and Goldman Sachs, demonstrate that there is a lot of market concern about the stability of leading financial institutions, even after the Treasury's recent steps. Another piece of evidence: the premiums on three-month interbank loans remain very high in comparison with overnight loans, signaling banks' deep uncertainty about the sector's stability...

Author: /time Magazine | Title: Why the $700 Billion Isn't Helping | 10/7/2008 | See Source »

...Bourdon House (above), built in 1720 and previously the home of the Duke of Westminster. Restored beyond its former glory, the house also includes a private club called Alfred's. Members can browse, shop, have supper in a private dining room, sample the wine cellars and even stay overnight in what was the duke's suite...

Author: /time Magazine | Title: Old Is New Again | 10/6/2008 | See Source »

...Today we had one sack, which was my fault because I held onto the ball too long,” Pizzotti added. “So those guys opened up holes and protected them and did a great job.” But the success did not come overnight. The line spent the entire off-season and summer working out, conditioning, and training for the upcoming season. All the while, they continued to build chemistry. An extremely close-knit group, the line often enjoy pre-game meals together, a tradition tailback Ho tried...

Author: By Kevin T. Chen, CONTRIBUTING WRITER | Title: Big Men Up Front New Big Men on Campus | 10/6/2008 | See Source »

...Just after the House shot down the bailout, Obama took to the stage in Colorado, and the contrast with McCain couldn't have been greater: "Now is not the time for fear, now is not the time for panic," he said. "We may not be able to do everything overnight ... But I want you to understand, I know we can do it ... Things are never smooth in Congress. It will get done...

Author: /time Magazine | Title: Anger vs. Steadiness in the Crisis | 10/2/2008 | See Source »

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