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...cases against four members of an IRA splinter group accused of the bombing had ended with only one conviction (which was later overturned). Under the looser standards of proof in civil cases, the court held the four men responsible for setting off a car bomb in the country's worst-ever terrorist attack. As the husband of one of the victims said, "It was never about the money. We can stand and say that these guys are responsible for Omagh...

Author: /time Magazine | Title: The World | 6/22/2009 | See Source »

...even generosity is recession-proof. According to Giving USA Foundation, charitable giving dropped 5.7% in inflation-adjusted dollars last year--the worst plunge in 50 years. Given the roller-coaster stock market and rising unemployment, however, some experts expressed surprise that the fall wasn't more precipitous...

Author: /time Magazine | Title: The World | 6/22/2009 | See Source »

...those that don't, and that the spending cap would hinder innovation. A series of recent changes in the rules governing design have also annoyed the teams, which complain that the constant changes to regulations makes it harder to design new cars and engines. (See the 50 worst cars of all time...

Author: /time Magazine | Title: Are the Wheels Coming Off of Formula One? | 6/20/2009 | See Source »

...addition to its multibillion-dollar deficit, California faces a severe cash-flow crisis and state controller John Chiang warns that the state could run out of money in July. California has the worst credit rating among the 50 states, so its leaders have pressed the Obama Administration and Congress to act as a co-signer on the state's borrowing. As with AIG, California officials argued, the state is too big to fail. "A fiscal meltdown by California ... would surely destabilize the U.S., if not worldwide financial markets," state treasurer Bill Lockyer wrote U.S. Treasury Secretary Timothy Geithner...

Author: /time Magazine | Title: Can the U.S. Afford to Let California Fail? | 6/19/2009 | See Source »

...that collision of big guns and bad ideas weren't enough, lawlessness on land has spurred more of it at sea, making Somalia not only the world's most failed state and the home of its worst humanitarian crisis but also a center of piracy. The geo-strategic elements of this enduring catastrophe explain why it is watched blow by blow by both the U.S. and al-Qaeda...

Author: /time Magazine | Title: Behind the Suicide Bombing in Somalia | 6/19/2009 | See Source »

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