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Detroit's struggling and battered automakers are mounting an ambitious push this week for up to $50 million worth of federal loans, which are much less expensive than private credit. They are eager to have necessary legislation in place by the time Congress adjourns before the election. As recently as last winter, loan guarantees for carmakers had seemed like a piece of the Motor City's past (President Carter signed off on the Chrysler loan guarantees in 1980). But a combination of the economic slowdown and Presidential campaign politics, as well as the precedent of the federal bailout of Wall...

Author: /time Magazine | Title: Carmakers Push Congress for Loans | 9/9/2008 | See Source »

...Rumsfeld’s military strategy in Iraq , scrutinized lobbyist Jack Abramoff’s dealings with Indian tribes , and railed against the pork barrel projects approved by a Republican Congress . While Palin scraped the pork barrel for federal dollars herself, she also line-item-vetoed $268 million worth of hometown projects from the state budget, or about 10 percent of state spending. These political victories have enabled the McCain campaign to sell her as a bull moose, not as a culture warrior...

Author: By Brian J. Bolduc | Title: A True Reformer | 9/9/2008 | See Source »

...institute’s annual $150 million budget, the rest of which would continue to be filled by federal grants. “So we made this $100 million bet, then a $200 million dollar bet,” said Broad, a well-known philanthropist whose net worth is just under $6 billion, according to Forbes magazine. “Now we’re making a $600 million dollar bet that this will be the place in the world where the greatest scientific discoveries will take place.” “We have made...

Author: By June Q. Wu, CRIMSON STAFF WRITER | Title: Founding Couple Gives $400 Million to Broad Institute | 9/9/2008 | See Source »

...love for his daughter. The speech is boilerplate sentiment, which the actor elevates to a passion as sweet as it is forlorn. If Rourke had to punish himself to look the part of a battered fighter so he could slip inside Randy's wounded innocence, then, man, it was worth...

Author: /time Magazine | Title: The Wrestler: Mickey Rourke's Comeback | 9/6/2008 | See Source »

...profit margins, while using computer models that overstate risk. But no one denies that the risk is real: it's been 80 years since a major storm hit a major Florida city, but hurricane researchers have calculated that the next one could cause as much as $150 billion worth of damage. And Crist's reforms, while reducing premiums, included other changes that increased the risk that taxpayers and policyholders will have to bail out the Cat Fund. "The risk was removed from the insurers' portfolio and is now being supported by the people of Florida," McCarty explained...

Author: /time Magazine | Title: Could Florida Survive the Big One? | 9/5/2008 | See Source »

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