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...Federal Reserve Bank of New York $1.5 million in fines after it determined Vargas had lied about his knowledge of fraud that executives had committed at a bank he was in the process of acquiring. (As part of his settlement with the Reserve Bank, he didn't have to admit guilt.) Today, Vargas cannot invest in U.S. banks without government permission. Still, the incident doesn't seem to have put much of a dent in his personal worth (which he declines to divulge...

Author: /time Magazine | Title: The Dead Polo Ponies and Their Millionaire Owner | 4/23/2009 | See Source »

Perhaps Obama's most dramatic departure from the recent past is his public presence: cool where George W. Bush seemed hot, fluent where Bush seemed tongue-tied, palliative rather than hortative. Bush would never admit a mistake, but Obama said the words plainly - "I made a mistake" - when his appointment of Tom Daschle as health-care czar tanked, one of the few significant setbacks during his time in office. (One senses that Obama's cool can quickly turn chilly. "He is not very sentimental," says an Obama aide. "If you're no longer useful, he'll cut you loose...

Author: /time Magazine | Title: Joe Klein on the President's Impressive Performance Thus Far | 4/23/2009 | See Source »

...After his divorce, Newsom was forced to publicly admit in 2006 that he had had an affair with his campaign manager's wife. The woman had disclosed the infidelity to her husband, who had also served as Newsom's deputy chief of staff. In a press conference admitting to the affair, Newsom also said he was getting treatment for alcohol abuse...

Author: /time Magazine | Title: San Francisco Mayor Gavin Newsom | 4/23/2009 | See Source »

...were saying, this decision to admit students is arguably our most significant change in policy since we granted women access to the main dining rooms in 1968. My, what a fuss that was! The Ladies’ Dining Room was pleasant enough, with ample space for their knitting circles, but—heh—you know how those Radcliffe women can be. We must admit, though, that their feminine touch lends a charming dash of domesticity to our proceedings. It can’t be all cigars and snooker all the time, you understand...

Author: By Jessica A. Sequeira | Title: Just Sign Here | 4/20/2009 | See Source »

...read to help myself understand the region's manera de pensar, or psyche. I fidgeted and mentioned Octavio Paz's Labyrinth of Solitude. He shrugged. José Martí's Our America? Eh. How about everything by Gabriel García Márquez? (Although I had to admit that was to impress women.) He shook his head and handed me Eduardo Galeano's The Open Veins of Latin America - the same book Venezuelan President Hugo Chávez made a show of giving Barack Obama on Saturday before Obama's meeting with South American leaders at the Summit...

Author: /time Magazine | Title: Signs of Spring: U.S.-Latin America Relations Thaw | 4/20/2009 | See Source »

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