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After the 1929 collapse, which at its worst left a quarter of the workforce jobless, the U.S. instituted safeguards to ensure liquidity, confidence and trust in the U.S. financial system. There were four pillars: insuring the bank deposits of everyday Americans, allowing access to government funds in case of a panic, providing a regime for the orderly failure of badly run companies and limiting how much credit could be leveraged off a particular asset...

Author: /time Magazine | Title: Are Paulson and Bernanke Running Out of Options? | 10/8/2008 | See Source »

...partners should be given another chance to prove themselves. In February 2008 the company submitted a $1.3 billion plan calling for production of 10,000 bbl. a day of gas condensate to begin in six years. But Irwin rejected the proposal in April, saying he did not "trust" ExxonMobil's word after years of false starts, and pulled the leases. The state wants other producers to bid for the development rights, a plan unlikely to occur for years because of court challenges. Dan Dickinson, tax chief under Murkowski, claims that the Point Thompson decision may have scored p.r. points...

Author: /time Magazine | Title: Palin's Pipeline to Nowhere? | 10/2/2008 | See Source »

...gotta be like that?" and "Stop playing me," followed by "I wrote you a poem." When the phone call ended, I said, "Flo, you've got 100 problems." He said, "Why's that?" I said, "99 plus one." It was the first rap joke I'd ever made. Trust me, if you know Jay-Z, it's a good...

Author: /time Magazine | Title: Fifth Wheel: Hanging out with Flo Rida | 10/2/2008 | See Source »

...unlike Bill Clinton - have that desperate need to make you like him. His brilliant, at times excessive, oratory is an outlier - the only over-the-top, Technicolor quality he has. There has been no grand cathartic moment for him in this campaign, but rather a steady accretion of trust, a growing public sense that he knows what he's talking about and isn't going to get crazy on us. His demeanor has rendered foolish all the rumors about his alleged radicalism. This guy is the furthest thing imaginable from an extremist; McCain, by his own admission, is the bomb...

Author: /time Magazine | Title: Anger vs. Steadiness in the Crisis | 10/2/2008 | See Source »

...problem is how to resolve the current stalemate. Talks between workers and producers on Wednesday failed to reach an agreement, but Nahta predicts a resolution by Sunday. "Both sides will have to give in a little, and by Sunday they will have had time to iron out the problems." Trust Bollywood to script a happy ending...

Author: /time Magazine | Title: The Bollywood Strike Hits Festival Season | 10/2/2008 | See Source »

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