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...banks with the aim of unblocking frozen credit markets that most businesses and households rely on - has not yet provoked the intended reaction. And while it's still fairly early in the bailout game, political and business leaders are already viewing banks with growing impatience ast credit taps remaining shut...

Author: /time Magazine | Title: World Markets Stabilize, but Recession Fears Grow | 10/15/2008 | See Source »

...with more intensity and tallied a goal in the 48th minute. “We wanted to finish the game strong, and I credit Maine,” Leone said. “They had a renewed energy against us. We definitely don’t expect to shut them out.” Late in the contest, Harvard found the net once more. After a couple of fancy spin moves in the right corner, sophomore Kerry Kartsonis sent a cross into the box. Junior Christina Hagner cut in front of her defender, controlled the ball, and delivered a shot...

Author: By Jake I. Fisher, CRIMSON STAFF WRITER | Title: Harvard Continues Winning Streak | 10/15/2008 | See Source »

...show their seriousness about the package, Pelosi and the Democrats actually came to work on Columbus Day, when the federal government - the Postal Service, the Pentagon, the Pension Benefit Guaranty Corp. and all the rest - was shut down. "Even a holiday of such importance could not stand in the way of our coming together here in Washington to deal with the financial crisis that is facing our country," Pelosi said after the Capitol session. FDR would certainly understand: he proclaimed the first Columbus Day in 1934, in the depths of the Great Depression...

Author: /time Magazine | Title: The Dems' Plan C for the Economy | 10/14/2008 | See Source »

...also struggling with the downturn, especially the massive decline in car leasing contracts in the U.S. It says that its plant in Leipzig will close for a week later this month and its Regensburg plant will shut from Nov 3 to 7, during the Bavarian Fall holidays. Union officials say the company's main plant in Munich may also shut for a few days. Ford plans to cut production at its Saarlouis plant in southwestern Germany and says it is also laying off 204 part-time workers. Mercedes parent Daimler announced earlier this year that because of slower demand...

Author: /time Magazine | Title: Germany's Car Industry Crashes | 10/11/2008 | See Source »

...Other Asian governments faced challenges similar to Japan's during the Asian financial crisis of 1997-98. In South Korea, for example, the government bought bad loans from banks and also injected government money into their balance sheets. Several banks were nationalized. Governments across the region also shut down financial institutions deemed too weak to survive or warrant a government bailout. In August 1997 Thailand closed 42 finance companies. Indonesia closed 16 banks in October 1997, and Korea closed 14 merchant banks that December, according to Merrill Lynch. This separating the wheat from the chaff helped to speed economic recovery...

Author: /time Magazine | Title: Lessons From Asia's Last Meltdown: Act Fast | 10/10/2008 | See Source »

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