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...Federal Reserve Board did all the work and usually made its big announcement on a Friday. Since then, Treasury Secretary Hank Paulson has moved to the fore, and he picked a Sunday afternoon to float his proposal for bolstering beleaguered mortgage giants Fannie Mae and Freddie Mac. The basic pattern, though, remains the same: Financial tizzy. Dramatic government action. Period of reduced tizzy. Repeat...

Author: /time Magazine | Title: Crisis? What Crisis? | 7/17/2008 | See Source »

During and after the great depression, workers, employers and the government entered into an implied social contract that afforded Americans a basic level of economic security if they worked hard and took responsibility for their families. In a new TIME/Rockefeller Foundation survey, however, Americans give voice to a very different reality: the 20th century's social contract is unraveling, they say, and almost all of us--8 in 10, in fact--yearn for a new bargain to help meet 21st century challenges...

Author: /time Magazine | Title: The New Social Contract | 7/17/2008 | See Source »

...core of the Soka Gakkai practice is the chanting of the phrase nam myoho renge kyo - "I devote myself to the mystic law of the Lotus Sutra" - but it is otherwise stripped of mysticism or ascetic self-denial. It teaches a mix of personal affirmation, positive thinking, and the basic Buddhist principles of peace and non-violence. Saurabh Popli, a lanky, 34-year-old architect, says he found in Soka Gakkai "a philosophy that can help us navigate these incredibly complex lives that we're living." He adds, "It doesn't require me to live in the mountains...

Author: /time Magazine | Title: India's New Buddhists | 7/15/2008 | See Source »

...responsible for certifying and then continually examining aircraft design, airline operations, airplanes, pilots, mechanics, repair stations, aircraft parts--essentially every stage of commercial aviation. The agency does this with one basic tool: inspections. The nearly 3,000 FAA inspectors are the main link between the government and the airlines, and it is their job to make sure the carriers operate within the law. They are supposed to stay on top of the airlines, verifying that planes and pilots are in shape to fly. It's a hands-on job, one that pays from $40,000 to $70,000 a year...

Author: /time Magazine | Title: FLYING INTO TROUBLE | 7/14/2008 | See Source »

...unable to resolve problems accessing the Apple App store, downloading applications, or setting up AOL and Yahoo email accounts on the device. Apple's own support lines were so jammed that we were unable to get through until late Friday evening. Meanwhile, instructions on the Apple website for basic functions, such as configuring your email, were confusing and of little help...

Author: /time Magazine | Title: Apple Bungles its iPhone 3G Launch | 7/12/2008 | See Source »

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