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...likes of Citi owned AAA-rated mortgage securities they thought were as safe as Treasury securities. That's what AAA means - or what they thought it meant. But since the rating agencies screwed up royally by not analyzing the securities properly - a whole other story - Citi et al. got whacked...

Author: /time Magazine | Title: What's Still Wrong with Wall Street | 10/29/2009 | See Source »

...Zanzibar City, and is a UNESCO World Heritage area. The showpiece is the waterfront, a line of whitewashed palaces and forts beside clear, green waters. Here the British Old Dispensary sits next to Portuguese cannons, a fort built by Omani Arabs, and the Victorian clock tower of the Beit al-Ajaib - the first building in Africa with running water, electricity and a lift...

Author: /time Magazine | Title: Touring Zanzibar's Dark Past | 10/29/2009 | See Source »

...Foreign Relations that he has sought information from U.S. intelligence sources about Wali Karzai's alleged drug links, but "nobody has the smoking gun." True, perhaps, but if Americans are tampering with that evidence for short-term gain, there probably won't ever be one. Notorious American gangster Al Capone, it must be remembered, was never successfully charged with smuggling, gun-running or murder. Eventually of course, he was brought to justice - for tax evasion. Unfortunately, there are no such laws in Afghanistan...

Author: /time Magazine | Title: Karzai's Problem Brother: Drugs, Spies and Controversy | 10/28/2009 | See Source »

...activities of a local asset isn't exactly new. It's emblematic of the often shady compromises that are conducted on a daily basis around the globe in the name of increased American security. (If you think the U.S. is only talking to "good" guys to get information about al-Qaeda, think again - men with clean hands rarely truck with those without.) But if the Times' charges are true, the revelations that Wali Karzai is a major drug trafficker who has been protected not just by his brother, but also by CIA operatives establish a chain of causality between...

Author: /time Magazine | Title: Karzai's Problem Brother: Drugs, Spies and Controversy | 10/28/2009 | See Source »

...unemployed Russian émigré identified only as Alex W., could spark more unrest. In Egypt, where el-Sherbini has been dubbed by the media as the "headscarf martyr," people are expecting "justice to be administered in a swift way," Ramzy Ezzeldin Ramzy, Egypt's ambassador to Germany, told al-Jazeera. (See pictures of Islam's soft revolution...

Author: /time Magazine | Title: The 'Headscarf Martyr': Trial of the Century for Muslims | 10/28/2009 | See Source »

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