Thursday, January 29, 2009

TIME Daily News 24/7

Today's Top Stories

Why Your Bank is Broke

By STEPHEN GANDEL

Sketch loans, financial blunders, and a string of bad bets have left America's banks nearly insolvent. How an industry collapsed — and why only nationalization might solve it

The Devastation of Gaza: From Factories to Ice Cream

By TIM MCGIRK / GAZA CITY

Surveying the wreckage of their communities, Palestinians believe Israel's targets weren't confined to Hamas

Caterpillar Layoffs: How They're Playing in Peoria

By STEVEN GRAY / PEORIA

The biggest employer in the Illinois city announces massive global job cuts, shaking the midwestern city to its core

Obama's Fresh Start: Substance Over Show Biz

By JOE KLEIN

Obama has shifted the focus of the presidency from show biz to substance — at least for now

Lostwatch: Explosive Revelations

By JAMES PONIEWOZIK

SPOILER ALERT: Before you read this post, fill it with lead, encase it in concrete and bury it until you watch last night's Lost.

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TIME Blogs

Swampland

By Michael Scherer

But it still passes 244-188.

Special Package

Top 10 Ahmadinejad-isms

Never one to shy away from a controversial remark, Iranian President Mahmoud Ahmadinejad's demand of a personal apology from Barack Obama is just one of a number of less-than-realistic claims he's made since his election in 2005

Quotes of the Day

"I'm going to be on pins and needles just waiting to see what he's going to be delivering us. It could be anything."
SUSAN GARRETT,
Democratic member of the Illinois Senate, after embattled Illinois governor Rod Blagojevich requested to deliver a closing argument at his impeachment trial, which he has thus far boycotted
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Postcard from...

How Scotland's Poet Seduced Brazil

By Andrew Downie

The locals were skeptical, but after a night of whisky, haggis and the loquacious verse of Robert Burns, his auld acquaintance won't be forgot

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