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...Odierno, on Sept. 16. In July the Senate voted to promote Petraeus to head the military's Central Command, covering central Asia and the Middle East, including Afghanistan and Iraq. He assumes his new post this fall, filling the void left by Admiral William J. Fallon, who resigned in March over clashes with the Bush Administration...

Author: /time Magazine | Title: The World | 9/11/2008 | See Source »

...just Frannie we're talking about here. There were also $29 billion in government loans behind Bear Stearns' shotgun marriage to JPMorgan Chase & Co. in March, although since they were made by the Federal Reserve--which can print its own money--it's not a direct cost to taxpayers. Then there are the $4.5 trillion in bank deposits insured by the FDIC. The first big bank bust of the current crisis, that of mortgage specialist IndyMac, cost an estimated $8.9 billion, leaving the FDIC with just $45 billion on hand to cover a likely rash of failures. But while...

Author: /time Magazine | Title: With Fannie and Freddie, the US Is Bailout Nation | 9/11/2008 | See Source »

...Despite his apparent confidence in his own power, however, al-Maliki has been looking increasingly isolated on the domestic political scene in recent weeks, upsetting friends and foes alike. He has antagonized his Kurdish allies in the ruling coalition by threatening to march Iraqi security forces into Khanaqin, an ethnically mixed town just outside the autonomous region of Kurdistan, currently controlled by Kurdish Peshmerga forces. The Sunni Awakening leaders who played a key role in tamping down al-Qaeda are also growing increasingly wary of what they fear are al-Maliki's plans to sideline them, raising the specter...

Author: /time Magazine | Title: Behind al-Maliki's Tough Line | 9/10/2008 | See Source »

...Saving rural Zimbabwe from starvation will require a political settlement that restarts the economy and restores international assistance, but President Robert Mugabe remains locked in a stalemate over how to share power with MDC leader Morgan Tsvangirai. Tsvangirai won more votes than Mugabe in the first round vote on March 29, but boycotted the runoff in the face of violent intimidation. South African-mediated talks have sought to create a unity government, but the two sides cannot agree on how to allocate power within such an arrangement. (See photos of Political Tension in Zimbabwe here...

Author: /time Magazine | Title: Starvation Hovers over Zimbabwe | 9/9/2008 | See Source »

...monthly salary of an average civil servant. "We are also hungry," says Chauke. "We need to be paid in foreign currency because every commodity is being imported." A senior nurse at the local district hospital said that the number of children admitted with severe malnutrition increased from 10 in March to 40 by the end of July. "The ban by the government on humanitarian agencies shifted the burden on us greatly," she told TIME, speaking on condition of anonymity...

Author: /time Magazine | Title: Starvation Hovers over Zimbabwe | 9/9/2008 | See Source »

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