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...real estate too. Hamptons realty agent Rick Hoffman of Corcoran says his market usually gets an infusion of Wall Street money this time of year - thanks to the bonus payouts - but he isn't expecting a pickup in slow sales anytime soon. He says he is seeing the weakest prices in years on the east end of Long Island, where Wall Streeters have traditionally bought their weekend homes. For example, last week a seller dropped the price on a five-bedroom, 6 1/2-bath, 7,000-sq.-ft. home, located on an acre of land, to just under $3.3 million, down...

Author: /time Magazine | Title: New York City Feels the Brunt of Wall Street's Crisis | 10/31/2008 | See Source »

...sacrifices they will need to make during this economic free fall [Oct. 20]. But it is clear that such truth-telling is not what the American people want to hear, nor does such directness help the candidate during an election campaign. In August, in the midst of the oil-price surge, Obama tried to suggest to Americans that maintaining inflated tires could conserve fuel. The suggestion, backed by experts, was mocked by the McCain campaign. Clearly Obama learned the lesson of Walter Mondale's attempt to tell the truth in 1984 about the need to raise taxes. Steve Charing, CLARKSVILLE...

Author: /time Magazine | Title: Financial Contagion | 10/30/2008 | See Source »

...being stymied, first by Newt Gingrich and then by George W. Bush, congressional Democrats are bursting with pent-up ambitions and long-deferred dreams. Some are epic undertakings that would affect every American for decades - like the proposal to impose a cap on carbon dioxide emissions and put a price on permits to burn fossil fuels. Or the goal of completely reorganizing the way the U.S. manages health care. Other, smaller projects involve large amounts of controversy - like a bill that would allow federal funds to pay for abortions. And expansion of embryonic-stem-cell research. And a "path...

Author: /time Magazine | Title: How Obama and McCain Would Lead | 10/30/2008 | See Source »

Cheap Chopper to NYC. Delta passengers flying economy class to New York City's Kennedy Airport can get a lift into town by helicopter for $45 - about the same price as a taxi ride. There are 27 flights daily from Monday through Friday, connecting passengers at JFK with the Downtown Manhattan Heliport near Wall Street or the East 34th Street Heliport in Midtown. The eight-minute U.S. Helicopter flight is free for business- and first-class customers; the offer is good on all tickets purchased between...

Author: /time Magazine | Title: Travel News: Cheap Helicopter Rides from JFK | 10/30/2008 | See Source »

...might sound like good news that so much opium has disappeared from the world drug market, but Costa believes the missing opium is a potential time bomb, and many law-enforcement officials agree. That's because the Taliban is believed to be "stockpiling to control the prices," says a spokesman for Britain's Serious Organized Crime Agency, who confirmed that NATO forces have uncovered Taliban stockpiles of opium. Despite the bumper opium harvests, the street price of heroin remains a costly $67 per g in European cities, and the price Afghan farmers charge for their opium has remained about...

Author: /time Magazine | Title: Is the Taliban Stockpiling Opium? And If So, Why? | 10/29/2008 | See Source »

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