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...Realistically, the only way Republicans are going to support a financial-reform bill is if they conclude that they're going to pay a serious political price for obstruction. And they're only going to pay that price if they're perceived as anticonsumer; the finer technical points of derivatives regulations or proprietary trading are not going to move the masses. A new bureaucracy might not scream populism either, but it's probably the best way to portray a vote on reform as a choice between the banks and the people...

Author: /time Magazine | Title: The Case for a Consumer Financial Protection Agency | 2/17/2010 | See Source »

...part that's because the document is light on policy specifics and heavy on freedom-loving boilerplate. Defining themselves as supporters of Founding Fathers is hardly risky; had the authors attempted to codify principles more controversial than "honor[ing] the central place of individual liberty in American politics and life" or "support[ing] America's national interest in advancing freedom," their interests could have clashed. For a movement whose social conservatives, fiscal warriors and national-security hawks have been roiled by infighting in the past, affirming common bonds may well have been the paramount concern...

Author: /time Magazine | Title: Can a New Manifesto Woo the Tea Party? | 2/17/2010 | See Source »

...suggest adult supervision," says Bozell. "That's condescending. This is meant to give some form of structure to all of this bursting energy that's out there." And while several conservatives said they believed Tea Partyers would naturally align under the conservative banner, they cautioned that the movement's support could not be taken for granted. "These new people distrust everybody," Keene says. "Republicans are carrying the burden and the baggage of the last time they were in power. People remember that. They have to be very careful about being consistent this time around if they want these people...

Author: /time Magazine | Title: Can a New Manifesto Woo the Tea Party? | 2/17/2010 | See Source »

...seven-week period of Lenten fasting is starting. After years of overspending by both the government and ordinary people armed with credit cards - and now flush with credit-card debt - Greeks know the party is over. According to a poll released on Feb. 14, nearly two-thirds of people support the government's proposed austerity measures to cut the soaring deficit. Many even believe they don't go far enough...

Author: /time Magazine | Title: The Party's Over for Spendthrift Greeks | 2/17/2010 | See Source »

...Fofi Klimentidi, a 33-year-old teacher in Athens, is typical of many young Greeks who don't earn enough to support themselves despite being well-educated. She has an undergraduate degree from a Greek university and a master's degree in special education from the U.K. But the only job she can find is temporary, part-time work. In a good month, she makes $400. "My father helps support me," she said during a civil-servant protest against the austerity measures on Feb. 10. "We're already exploited by the state. We can't live on what they give...

Author: /time Magazine | Title: The Party's Over for Spendthrift Greeks | 2/17/2010 | See Source »

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