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...worried investors or for Fed Chairman Ben Bernanke, who according to inside reports had been advocating for a recapitalization for months. Money flowed out of the stock market, including that of many large hedge funds. Some $2 trillion in market value disappeared in a week. "It was tunnel vision," says Republican Congressman Spencer Bachus, ranking member of the House Committee on Financial Services. At a meeting at the White House on Sept. 25, Bachus says, he and others brought up the need for alternative approaches. "The President said, 'Paulson wants to do it. He's the guy. Whatever he says...

Author: /time Magazine | Title: The Big Bank Bailout: Are You Next? | 10/16/2008 | See Source »

...offer basic medical coverage, including, in some cases, dental, vision and prescription-drug benefits. A few even throw in fancier perks like teeth-whitening or gym-membership discounts. So what's the catch? Not surprisingly, there's some fine print...

Author: /time Magazine | Title: Insurance for $30 a Month | 10/16/2008 | See Source »

Many people, when they think of horror, think of ghosts and zombies and vampires and demons. You seem to be saying, though, that those can be only the most minor elements of a great horror story. That's true. But it all depends on your angle of vision. I have friends who really want to write stories with those elements, and do, and have an immensely good time. And that's all they're doing. I'm not interested in those stories. I like them as people, but that writing doesn't strike me as inherently interesting...

Author: /time Magazine | Title: Horror Writer Peter Straub | 10/14/2008 | See Source »

...debt soaring, national economy shrinking, soon the twain shall meet." In 1980, before technology could support a debt clock, he mailed handwritten holiday cards to dozens of congressmen that read: "Happy New Year. Your share of the national debt is $35,000." When technology finally caught up with his vision of a fiscal odometer, Durst's clock included a smaller counter that tracked each American family's share, which in 1989 added up to $49,466. At last count, the figure stands at more than...

Author: /time Magazine | Title: The Times Square Debt Clock | 10/14/2008 | See Source »

...equation for Berlusconi. At Monday's White House ceremony, the Italian Prime Minister gushed with praise for his host: "I've been honored over these years by the possibility of cooperating with you. I've found in you a man of great ideals, great principles, a man of vision." He continued: "And it was always easy for me to share your ideas, to share your visions, to be next to you, to stand next to you, because we are always bound by these common love for freedom, love for democracy, respect for the others, and the feeling, this common feeling...

Author: /time Magazine | Title: Berlusconi, Bush's Last Best Friend | 10/14/2008 | See Source »

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