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...Kavanaugh, one of the few who has been able to close studio finance deals in the past few months, says he welcomes the new rules. "It's a natural equilibrium that had to happen," Kavanaugh says. "There's not a fire sale going on. Smart deals will continue to get made, with investors having a significantly better seat at the table...

Author: /time Magazine | Title: Financial Crisis Puts Squeeze on Hollywood | 9/18/2008 | See Source »

...trying to stave off financial crisis. Not so for regulators, of course. It's difficult to imagine the pressure and stress. Key players such as Treasury Secretary Hank Paulson and New York Fed chief Tim Geithner have been working around the clock for weeks now, putting out fire after fire. Besides having to comprehend and solve the mind-bending financial woes of some of the world's biggest companies, they are also briefing and seeking counsel from CEOs of the surviving companies, never mind President George W. Bush and the two presidential candidates, plus central bankers from around the globe...

Author: /time Magazine | Title: How Financial Madness Overtook Wall Street | 9/18/2008 | See Source »

...Charles Rangel, chairman of the House Ways and Means Committee, is under fire over a series of recent disclosures that have some calling for him to resign from the powerful position. In July, it was revealed that Rangel was renting four rent-stablized apartments in his home district of Harlem, New York, including one he was using as a campaign office, which is illegal. (He gave up the campaign office apartment, but kept the other three.) Soon after, Rangel admitted he had used congressional stationery to set up meetings with potential donors to a new college center being named after...

Author: /time Magazine | Title: Charles Rangel | 9/17/2008 | See Source »

...plan faltered at the first hurdle, when the Yemeni security guards refused the vehicle entry through the checkpoint. The militants then opened fire and detonated the bomb, which killed several guards and militants, eyewitnesses told journalists. The explosion set off a huge plume of black smoke over Sana'a as nervous U.S. diplomats, according to the source, headed for a specially designed secure room in the basement of the embassy building. One of the suicide bombers' arms was found later on a nearby street...

Author: /time Magazine | Title: In Yemen, a Massacre of Americans Is Averted | 9/17/2008 | See Source »

...Qaeda, it has sometimes been too lax - for example, by sentencing hardened militants to short prison terms and freeing repatriated Guantánamo Bay detainees. Last May, an appeals court reduced from five to three years the prison sentence for Saleh al-Ammari, the Yemeni man who opened fire on the U.S. embassy in Sana'a in 2006. Still, U.S. officials acknowledge that the government faces a formidable challenge. The country is home to a large number of veterans of the anti-Soviet jihads in Afghanistan and the Iraq insurgency; local militants have links to powerful Yemeni tribes; the country...

Author: /time Magazine | Title: In Yemen, a Massacre of Americans Is Averted | 9/17/2008 | See Source »

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