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...congressional leaders pushing rival agendas than did his bedeviled predecessors Carter and Clinton. Those earlier Democrats faced Congresses dominated by complacent chairmen who had never known a gop majority. Today's Democratic leaders know what it's like to lose the perks - and opportunities - of power. Having reoccupied the plush offices of the Capitol, they might appreciate the idea that being in the same party sometimes means staying on the same page. Then there is the question of taxes. Obama has made overhauling the tax code a centerpiece of his campaign. In the real world of Washington, his plan...

Author: /time Magazine | Title: How Obama and McCain Would Lead | 10/30/2008 | See Source »

When the 4,500 people who used to work for Lehman Brothers in London showed up at the investment bank's plush office on Canary Wharf on Sept. 15, only to be told that the firm was out of business and that they should look for another job, some of them did what any number of their colleagues around town have been doing for years: they threw a party. On the equity-trading floor, the internal p.a. system known as the "hoot" blared out the R.E.M. song "It's the End of the World As We Know It." And then...

Author: /time Magazine | Title: London Falling | 10/23/2008 | See Source »

...Minutes later, Hussain would become the first driver whose truck would cross the Line of Control dividing Kashmir since Pakistan and India first clashed over this plush valley of vast hills and deep gorges over sixty years ago. As the battle with Taliban insurgents rages on its Western frontier and its economy is roiled by rampant inflation and capital flight, Kashmir - and the gentle thaw in relations with India - has emerged as an unlikely bright spot on Pakistan's dark horizon...

Author: /time Magazine | Title: India, Pakistan Cross the 'Line' | 10/23/2008 | See Source »

...sunny October afternoon, the normally teeming streets of the fashionable district of Nisantasi are oddly quiet. The occasional tourist couple wanders by. Behind elegant windows advertising new autumn collections, plush stores like Hugo Boss, Louis Vuitton and Armani are empty. Groups of sales attendants hover nervously by the entrance. "Business is terrible," says the director of one popular U.S. luxury label. "We hoped it would pick up after Ramadan, but it hasn't. Nobody wants to lose face by officially going on sale in October because it's unheard of, but in-store most labels are offering...

Author: /time Magazine | Title: Turkey's Wild Ride | 10/22/2008 | See Source »

...Docklands Light Railway, which linked up parts of once dilapidated east London in the '90s. Liam Bailey, head of residential research at realtor Knight Frank, says the gentrification started a decade or so ago, and has accelerated in the past five years. Knight Frank is currently offering plush one-bedroom apartments with river views there starting at about $500,000 apiece...

Author: /time Magazine | Title: London's Gathering Storm | 10/9/2008 | See Source »

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