Word: interests
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...passed tens of billions of dollars of loans to banks and brokerages through its emergency lending window. It has lowered interest rates to zero. Treasury has put $25 billion into each of the money center banks. It is now backing over $300 billion in bad assets held by Citigroup (C) through a loss-sharing agreement. Bank of America (BAC) is getting a similar deal. The programs to back bad assets is almost certainly going to spread. (See pictures of TIME's Wall Street covers...
...without an agreement is the option favored by Livni. And its prospects may be enhanced by the realization that negotiations over a formal cease-fire may take more than 10 days and may, in fact, not be resolved before Israel has elected a new government - possibly, one with little interest in a truce with Hamas. But even an unspoken truce would have to involve the opening of crossings to relieve the humanitarian catastrophe and would require mechanisms for monitoring the flow of goods into Gaza and smuggling via tunnels. In other words, even an unspoken cease-fire will require many...
...there is nothing left to be destroyed but false memories. The Cuban Revolution was destroyed long ago by men like Fidel and Raúl Castro, men who took up the bastion of worthy ideals like education, enlightenment, and opportunities for all only to betray them for their own personal interest. As they became what they most hated, their socialism showed symptoms of the worst kind of individualistic and corrupted ethos. And those around the region who choose to remember a tragic revolution in positive light share a similar duplicity...
...website. The new transition website invites comments at nearly every turn, with regular video responses from all ranks of Obama's incoming Administration and a promise to collate feedback into reports for policymakers, Cabinet officers, even the President. Citizens can view and comment on briefing papers submitted by the interest groups that have been lobbying Obama ever since he won the election. Most of these interactive devices will be carried over to the Obama White House site. Asked if all this feedback would really reach decision makers, Phillips responded, "I wouldn't enjoy my job if I felt the whole...
...prospect of a haphazard stimulus exploding the national debt is scary too - partly because we paid $450 billion in interest last year, rivaling what we spent on Medicare, and partly because our liabilities could crush us if foreign investors sour on Treasury bonds. That's why Obama's advisers want to focus on temporary initiatives that won't drown us in red ink by creating long-term obligations, which they call tails. It would be nice to give cash-strapped transit agencies enough money to reduce fares for a year, but what happens when the year is over? Similarly, some...