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Begleiter says his poker success, which includes a ninth-place finish in another World Poker Tour event last August, hasn't been about some special mastery of probabilities and risk. "There are plenty of people who are very good poker players who never worked on Wall Street and may have even dropped out of their community college," he says. To him, success is more about reading the opponent. He likens entering an all-in Hold 'Em showdown to a bidding war against some other investment firm trying to buy the same assets he wants to buy. You don't want...

Author: /time Magazine | Title: Will a Wall Streeter Win Big at the World Series of Poker? | 11/3/2009 | See Source »

Mexico has finally altered its approach to the drug problem, if only slightly. In August, Mexico legalized the possession of small amounts of heroin, cocaine, and marijuana. While this may bring about slight improvements in the justice system in Mexico, the law is unlikely to halt the violence that stems in large part from Calderón’s policies and the consumption habits of the U.S. These two forces are undermining the stability of Mexico and will soon threaten the U.S as well...

Author: By Charles A. Lacalle | Title: Drugs Without Borders | 11/2/2009 | See Source »

...most notable case being the departure in disgrace of its previous scandal-plagued mayor, Kwame Kilpatrick. The city also likes to root for its own, so much of Pugh's narrative resonates with a certain segment of this city's electorate. The political newcomer won the primary election last August by more than 10,000 votes, beating the incumbent city council president. "Detroiters are so thirsty for leadership," says Mildred Gaddis, a popular Detroit radio host and one of the most astute observers of the region's politics...

Author: /time Magazine | Title: Can Detroit's First Openly Gay Pol Save the City? | 11/2/2009 | See Source »

...elections in conflict zones. Such elections, though often held up (with the U.S. domestic political audience in mind) as examples of democracy's triumph, can actually undermine U.S. goals in those situations. Contrary to the Obama Administration's spin, resolving the dispute over the fraudulent ballots in Afghanistan's August election was never the key to determining whether to send more U.S. troops into the country. In fact, the runoff election was never going to strengthen the legitimacy of the resulting government; it was always more likely to further weaken it. (See pictures of the presidential election in Afghanistan...

Author: /time Magazine | Title: Why an Election Was Never the Answer in Afghanistan | 11/2/2009 | See Source »

...that light, the main legitimacy problem with the August vote was not the 1 million-plus fake votes that were cast mostly for Karzai but the 12 million-plus votes claimed by the Taliban. No one actually voted for the Taliban, of course, and its call for a boycott of the poll was enforced by threat of death. But whether out of fear, political choice or sheer indifference, 12 million voters - representing 70% of the electorate, compared with just 30% in 2004 - stayed away from the ballot stations. A runoff election was expected to see an even smaller turnout...

Author: /time Magazine | Title: Why an Election Was Never the Answer in Afghanistan | 11/2/2009 | See Source »

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