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...main opposition parties, the Conservatives and the Liberal Democrats, have both pledged to scrap the scheme if they wrest power from Labour. Boris Johnson, London's Conservative mayor, is an enthusiastic proponent of an alternative plan to build a brand new airport in the Thames estuary. He describes the decision to greenlight Heathrow's expansion as "pure political machismo." (See pictures of Boris Johnson...

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

...come out with a great "Invisible Hand" anthem or a theme song about price elasticity and wage rates. But that doesn't stop Young from trying; parts of his 2008 world-tour concerts were peppered with angry rants about the financial collapse. In November he even released his own plan for saving the U.S. auto industry. Young aimed to tackle "the issue of global warming from our automobiles while enhancing our national security and keeping Detroit working." Wow, did the Woodstock generation get boring, or what...

Author: /time Magazine | Title: Neil Young's Bailout Song | 1/16/2009 | See Source »

...rehabilitation and restructuring of Citigroup (C) was supposed to take months, or maybe a year. The big bank got a cash infusion when it sold a part of Smith Barney to Morgan Stanley. The plan for the creation of a new Citi was based on its ability to limit its losses so that it could buy time to unload other parts of its family of financial companies...

Author: /time Magazine | Title: Citigroup: Rebuilt Against Its Will | 1/16/2009 | See Source »

...this is, of course, just one small piece of the broader, potentially trillion-dollar stimulus plan, but it's one that Oberstar swears has the best shot of fixing the economy. "We are facing a worldwide economic, financial meltdown," he says. "And these measures taken so far by Treasury to stabilize the bank system itself, free up credit, are either not working or working so slowly that there is no trust in the credit system. And you need something much bigger. You need to put people to work...

Author: /time Magazine | Title: Congress's Point Man on Infrastructure Spending | 1/16/2009 | See Source »

Scenario 3: The Guns Go Silent Without a Formal Truce If the offensive cannot deal Hamas a death blow, Israel may see benefit in holding its fire, in line with the first phase of the Egyptian plan but not necessarily concluding a comprehensive cease-fire. It would simply maintain the halt to hostilities and even withdraw its forces on an open-ended basis. Israeli leaders saw Operation Cast Lead as an opportunity to restore Israel's "deterrent" power, which it believed had been damaged when it was fought to a draw by Hizballah in Lebanon in 2006. But the Gaza...

Author: /time Magazine | Title: How the Gaza War Could End: Three Scenarios | 1/16/2009 | See Source »

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