My colleagues at Time, Karen Tumulty and Massimo Calabresi, have written a story that details what officials are afraid will happen without a bailout. Nicely done.
On Sept. 18, Paulson and Bernanke laid out the dark scenario for stunned-silent congressional leaders: a stock-market crash, businesses going under, unemployment soaring, consumers unable to get so much as a car loan, banks failing so fast that they would quickly drain the federal deposit insurance fund—and with it, countless people’s life savings. And unlike the chain reaction that came over the course of weeks and months in 1929, this…
Continue Reading »
Listening to US officials warn of a fiscal crisis, I am struck by how much they sound like officials on the brink of a disaster or a terrorist attack. In both cases, the official instinct is to say less rather than more. This is a mistake.
We hear vague warnings of impending doom—but no details. We are expected to follow orders—and support a $700 billion bail-out package—without knowing what will happen if we don’t. And now the proposed bail-out plan is vague, too.
No one can predict the future. But it is obvious that Treasury Secretary Henry Paulson and President…
Continue Reading »
I’m headed up to NY on Thursday for the anniversary of 9/11. For reasons I don’t quite understand, I’d rather not be there on that day. Any other day but that one. I was living in Manhattan on 9/11, and I maintain a deep affection for the city. I love the train ride up, the happy-cup coffee I’ll get on the street when I arrive, the rush of consumption and conversation and humanity.
But to see it up close on that day is always a little raw. It’s hard to know what expression to put on your face. Let…
Continue Reading »
I did a short piece for Time this week on the new book, The Obama Nation, by the guy who co-wrote the 2004 hit job on John Kerry, Unfit for Command. Both books were bestsellers.
I didn’t like it, I think it’s safe to say. Let me know if I was too subtle.
Continue Reading »
There is an unexpected irony that comes with publishing a book. You spend years scouring the Earth for stories; then the book comes out, and the stories start coming to you.
All summer, people from all over the world have been sending me unforgettable stories of human behavior in near-death experiences. Some of these stories arrived in private email messages that I can’t share; others are embedded in the comments on this site; and many more are floating in the ether, in blogs, articles and on TV. Check out this TV News segment that aired…
Continue Reading »
Here’s my latest TIME article about the new developments in the anthrax case. The FBI has released a slew of documents related to the case. And they make a compelling case for why Bruce Ivins was a suspect in the attacks.
But just as revealing as the documents are what the FBI did not release. We still do not know any details of the mysterious and fantastic new science that the government says it used to link the anthrax used in the attacks to anthrax used by Ivins. We do…
Continue Reading »
I just got back from Frederick, MD, the town that has become the epicenter of the anthrax investigation. (Twice!) The latest developments in this strange and seemingly endless mystery are dizzying to the point of nauseating.
Basically, the FBI’s latest suspect killed himself last week in Frederick, before any charges had been filed. So the story broke before the feds were ready to go public. The end result was a great, gaping void. While the FBI waited to get clearance to make its evidence public, reporters speculated, officials leaked and scientists buzzed.…
Continue Reading »
Exactly one year ago, Minneapolis’ Interstate 35W bridge crumpled into a heap, killing 13 people and injuring 100.
What has happened since? A few states, including Minneapolis, have mustered all their courage and made serious investments in their aging infrastructure. But no state has the money to do what needs to be done. Pennsylvania Gov. Ed Rendell managed to push through a $350 million bond issue. But, as he recently told CBS News, he needs $80 billion more. “There is no way on this good God’s earth that Pennsylvania alone can…
Continue Reading »
