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...ground floor, he said, "Senator Obama, I have something I want to give you," and he handed him his military patch. He said, "I've carried this military patch with me every day for 40 years, and I want you to carry it, and it will keep you safe in your journey." It was just such an unbelievable act of generosity. So later we asked Barack what he had done with it. And he pulled it out of his pocket and said, "This is why I do this. Because people have their hopes and dreams about what...

Author: /time Magazine | Title: In Their Words | 11/5/2008 | See Source »

...mismanaged. Financiers, as well as the investors who bought their wares and the ratings agencies that evaluated them, agreed that by applying the proper equations it was possible to, say, bundle a bunch of subprime mortgages, chop them up and sell the pieces as fairly safe securities, even as they were leveraged to the hilt. Why? The mathematical models--backward-looking and based on just a few years' data from an asset bubble--said so. "As an industry, we let financial tools be a substitute for human judgment," says Kevin Blakely, CEO of the trade group Risk Management Association. "There...

Author: /time Magazine | Title: Reassessing Risk | 11/5/2008 | See Source »

Unless Dobson has undergone a dramatic political conversion, it's safe to assume he does not consider Barack Obama's election on Tuesday to be divinely ordained. In June, Dobson delivered a furious broadside against the Democrat, charging that he was "deliberately distorting the traditional understanding of the Bible to fit his own world view." And yet in a year in which the economy mattered more than social issues for most voters, Obama's comfortable victory included Democratic gains in every single religious category among the electorate...

Author: /time Magazine | Title: Obama: Bringing (Some) Evangelicals In | 11/5/2008 | See Source »

...extremist in a Democratic year. This year, Ryun tried to reclaim his seat - but lost in the Republican primary to state treasurer Lynn Jenkins, who's a lot closer to the political center. Now Jenkins has ousted Boyda in another Democratic year, and has probably assured herself a safe seat. America has plenty of conservatives, but there are only so many places where Republicans can win by appealing exclusively to their base. (See pictures of Sarah Palin...

Author: /time Magazine | Title: For the Republicans, It Could Have Been Worse | 11/5/2008 | See Source »

...government can't seem to get control of a problem like toxic foods, or even a specific contaminant like melamine that has now become painfully common. "Everyone has asked why this country that can send an astronaut into space and have the most successful Olympic Games cannot provide safe milk to its own children," says Dali Yang, director of the Center for East Asian Studies at the University of Chicago. While Yang acknowledges that ethical failures in the Chinese dairy industry led to the current crisis, the ultimate blame still falls on the government. "Fundamentally it is an issue...

Author: /time Magazine | Title: China's Melamine Woes Likely to Get Worse | 11/4/2008 | See Source »

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