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Reverberations from the implosion of the U.S. debt bubble can be felt a long way from Wall Street. Gaurav Rege was a hotel manager near Rishikesh, an Indian hill station at the foot of the Himalayas. He and his new wife are young, educated, well-off - and worried. A member of India's growing consumer culture, Rege, 30, took out an adjustable-rate loan two years ago to buy an investment property near Bangalore, but his monthly payments have jumped because of tighter credit and rising interest rates. He has abandoned plans to get an M.B.A. because student loans...
...were a member of the PC when you were at Harvard. Do you ever come back to party with the guys still in the club...
...swooped on anyone who might be able to give them an authoritative prognosis. Conference fringe meetings featuring representatives from the Republican and Democratic parties drew capacity crowds. Tory MPs who had traveled to the conventions in Denver and Minneapolis gave starry-eyed accounts of the proceedings. Francis Maude, a member of the shadow cabinet, described himself as having been "one of Obama's 85,000 close friends in Denver" - but refused to reveal his personal preference for U.S. President...
...More than any individual member on Capitol Hill, no one has more to lose in this debacle than John McCain. By claiming to suspend his campaign and pledging to help bring House Republicans on board, McCain put much of his political capital on the line - to the point that his staff were already claiming credit for the legislative coup Monday morning on the assumption that it would pass. "This is very bad for McCain," said Clyde Wilcox, a government professor at Georgetown University. "So he interrupts his campaign to fly to Washington to deliver a deal, and then cannot deliver...
...Unlike the members of the former Iraqi army, who were abruptly dismissed and deprived of their livelihoods, each SOI member will continue to be paid during the transition, regardless of whether he ends up in the security forces or a trade apprenticeship. On average, each guard gets a salary of about $300 a month. In a country where unemployment is running at a staggering 60% (according to the quarterly U.S. report on reconstruction efforts), the payments are welcome, but not enough, according to al-A'ghayde...