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Just as Americans did with their houses, casino owners borrowed way too much money to build hotels that were way too big. Economists like Yale's Robert Shiller have warned that the next big wave of failures in the U.S. recession will be in commercial real estate - and once again...

Author: /time Magazine | Title: Less Vegas: The Casino Town Bets on a Comeback | 8/14/2009 | See Source »

While Ahmadinejad has always had close ties to the Revolutionary Guards - 14 of his 21 ministers in his first-term cabinet were said to have been veterans of the force - his current position suggests that it is now he who must pay homage to the Guards. When he appointed a...

Author: /time Magazine | Title: The Revolutionary Guards: Gaining Power in Iran | 8/13/2009 | See Source »

On July 28, ship managers based in Finland finally reported the hijacking to the Helsinki police, according to the MMA. Later that same day, the ship passed through the English Channel, communicating its position and speed to the British coast guard as dictated by standard procedure, with no mention of...

Author: /time Magazine | Title: Has Piracy Spread to Europe's Waters? | 8/13/2009 | See Source »

Clinton, who is nearing the end of her 11-day, seven-country trip around Africa, praised all that Johnson Sirleaf has accomplished, and deftly dodged repeated media inquires about the U.S. position on a recent report that publicly sanctions the President and recommends she not serve in government for the...

Author: /time Magazine | Title: Clinton Bolsters Liberia's Embattled President | 8/13/2009 | See Source »

That shift could come about if rival Waziri militant groups isolate the Taliban's Mehsud group and seize control for themselves. Mehsud had notoriously clashed with Waziri commanders Maulvi Nazir in South Waziristan and Hafiz Gul Bahadur in North Waziristan, who, unlike Mehsud, have focused on mounting crossborder attacks on...

Author: /time Magazine | Title: Are Taliban Leaders Fighting Among Themselves? | 8/11/2009 | See Source »

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