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...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, after collecting their personal possessions, dozens of the Lehmanites crossed...

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

...legendarily awful clubs from economically hurting swing states, battling it out for the championship of a past-its-prime sport while the rest of us watch football highlights. Philadelphia--my city--hasn't won a championship of any kind for 25 years, a record for a four-sport town. Tampa Bay has a shorter history of woe, but this is a city (well, technically, a body of water) whose football team, the Buccaneers, lost the first 26 games of its existence. If history is any indicator, neither team will win: the Rays and the Phillies will be swept from...

Author: /time Magazine | Title: The Moment | 10/23/2008 | See Source »

...Omayad Hotel, is packed. An instant hit with Damascus' rich and restless when it opened last summer, Z Bar provides not only a place to dance on tables Beirut-style but also a commanding view of the oldest continuously inhabited city in the world. "Top of Z Town" is its Pepé Le Pew--esque slogan, but everyone knows who's really on top in this town. From a hill above Z Bar, the glass façade of Bashar Assad's presidential palace looks down at his capital like an unblinking eye. And the stern portraits of Assad on every block...

Author: /time Magazine | Title: Postcard from Damascus | 10/23/2008 | See Source »

...Deadliest Catch--ification of politics. The more the electorate becomes suburban and diverse, the more pundits romanticize a definition of "working people"--like Discovery's Alaskan-crab fishermen--that is largely small town or rural, traditionally blue collar and white. The press spends months at the outset of each election at the independent diners and pancake breakfasts of Iowa and New Hampshire, a kind of museum-preserved Americana. Yet in 2000, according to U.S. Census data, only 59 million Americans lived in rural areas, and 30 million lived in small towns of fewer than 50,000 residents, compared with...

Author: /time Magazine | Title: Election Coverage, and the 'Real' Issue | 10/23/2008 | See Source »

...address like that overseas. Obama seemed to learn quickly from that mistake; his language during the general-election campaign has been simple, direct and pragmatic. His best moments in the debates came when he explained what he wanted to do as President. His very best moment came in the town-hall debate when he explained how the government bailout would affect average people who were hurting: if companies couldn't get credit from the banks, they couldn't make their payrolls and would have to start laying people off. McCain, by contrast, demonstrated why it's so hard for Senators...

Author: /time Magazine | Title: Why Barack Obama Is Winning | 10/22/2008 | See Source »

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