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...recent cases the laws brought striking results. Banking regulators publicly reprimanded several Swiss banks?by name?for keeping accounts belonging to relatives of the former Nigerian dictator Sani Abacha. And it was the Swiss in the autumn of 2000 who tipped off Peru that Vladimiro Lenin Montesinos Torres, the former head of Peruvian intelligence, had stashed away about $114 million in five Swiss accounts. Judicial authorities in Zurich blocked the accounts after the banks themselves reported their suspicions. The Swiss ambassador in Lima then informed the Peruvian government and urged it to open an international criminal investigation, with which Switzerland...

Author: /time Magazine | Title: Silence Is Golden | 9/8/2002 | See Source »

...thundering rhythm of drums toward an uncertain fate. At last I am released, but not yet free--not before I have autographed their T shirts, ticket stubs and notebooks. "You guys were great yesterday!" shouts one of the abductors, obviously a fan of my band, Spring and Autumn. He elaborates by doing his best impression of my head bang while thrashing on an air guitar. Meanwhile, Miserable Faith's musicians kick off their set with a groove-heavy bass riff, and the 50 Naxi kids around me, all painted like soccer hooligans, restart their mad moshing. True to the matriarchal...

Author: /time Magazine | Title: Woodstock East Has Music and Lots of Mud | 9/2/2002 | See Source »

...thundering rhythm of drums toward an uncertain fate. At last I am released, but not yet free?not before I've autographed all their T shirts, ticket stubs and notebooks. "You guys were great yesterday!" shouts one of the abductors, obviously a fan of my band, Spring and Autumn. He elaborates by doing his best impression of my head-bang while thrashing on an air guitar. Meanwhile, Miserable Faith's musicians kick off their set with a groove-heavy bass riff, and the 50 Naxi kids around me?all painted like football hooligans?start up their mad moshing again. True...

Author: /time Magazine | Title: The New Long Mosh | 8/26/2002 | See Source »

After a final push downward last October, most rates bounced back so quickly that many consumers couldn't seize the moment. Now rates are even lower than they were last autumn, and they may be headed lower still. Lehman Bros., Goldman Sachs and Deutsche Bank all predict that the benchmark short-term federal-funds target rate--at just 1.75%--will go to 1% by the end of the year as Fed Chairman "Sir" Alan Greenspan (soon to be knighted for his role in the global economy) dons armor against the double-dip recession dragon. A quarter-point cut could come...

Author: /time Magazine | Title: Can It Be Refi Time Again? | 8/19/2002 | See Source »

...that it takes a major flooding event to galvanize societies and governments to take action," says Michael Hulme, director of the Tyndall Institute at the U.K.'s University of East Anglia. "This certainly happened in Britain two years ago [when the country endured widespread flooding during the wettest autumn on record], and I suspect it will now happen in Central Europe." The residents of Prague have certainly learned their lesson. A barrier similar to the mobile floodwall that was assembled around the Old Town's perimeter had also been planned for the Malá Strana district, which was severely damaged...

Author: /time Magazine | Title: Raging Waters | 8/18/2002 | See Source »

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