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...Didn't the government already rescue Citigroup? True, this is not the first government handout. On Oct. 13, Treasury told Citi and eight other large banks that it would be buying billions of dollars worth of stock in their institutions, the opening move in a mass recapitalization plan for the banking sector. Citi got $25 billion in exchange for preferred shares on which it is to pay 5% interest for five years and then...

Author: /time Magazine | Title: Five Questions (and Answers) About Citi's Bailout | 11/25/2008 | See Source »

Here are answers to five basic questions about the plan...

Author: /time Magazine | Title: Five Questions (and Answers) About Citi's Bailout | 11/25/2008 | See Source »

...such household names as Circuit City, Steve & Barry's, Linens 'n Things and Mervyns going under. Of those four, only Circuit City is attempting to restructure its business, closing 155 stores by the end of the year in an effort to emerge as a leaner operation. The other three plan to liquidate altogether, a trend that is on the rise as a result of the lack of potential buyers for troubled assets and a tightening of credit offerings by banks. "The days of restructuring are gone," says Howard Davidowitz, chairman of Davidowitz & Associates Inc., a national retail-consulting and investment...

Author: /time Magazine | Title: For Retailers, 'Tis the Season to Be Nervous | 11/25/2008 | See Source »

...course of this year’s campaign, my grandparents—despite their unfortunate racist inclinations—were particularly happy with Barack Obama, then candidate and now President-elect. For them, his appeal didn’t lie with his denunciation of the war in Iraq, his plan for universal healthcare, or even his promise to reinvigorate the economy. Rather, it was his stance on the Armenian Genocide, of which my grandparents were victims, that won them over: “America deserves a leader who speaks truthfully about the Armenian Genocide and responds forcefully to all genocides...

Author: By Matthew H. Ghazarian | Title: A Willful Ignorance | 11/25/2008 | See Source »

Even with the limitations on his ads, Davis says he holds no ill feelings toward Obama. He says the McCain campaign's plan, which was largely dependent on tactical attacks on Obama, was working well until the financial meltdown, which began to accelerate in mid-September. "You've got to look at it and say, my Lord, it was just Obama's time. You know, his stars aligned right," Davis says. "And I think he's an incredibly gifted candidate. Let's hope, and I do hope, and I hope I'm right, that he'll be a very gifted...

Author: /time Magazine | Title: The Anti-Obama Campaign That Didn't Happen | 11/24/2008 | See Source »

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