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...small-scale geothermal or solar projects, or keeping the river for tourists. "We value the [Bujagali] falls, but development is about making options and choices," says Kahangire from his office overlooking Lake Victoria in Entebbe, Uganda. Some in the rich world agree. In his 2004 book, The World's Banker, on former World Bank president James Wolfensohn, journalist Sebastian Mallaby argues that NGOs often do more harm than good to the world's poor. Uganda's National Association of Professional Environmentalists, he wrote, was a tiny single-issue group that, with the backing of Western NGOs (including...

Author: /time Magazine | Title: The Waters Of Life | 4/23/2006 | See Source »

...thing a Wal-Mart Bank could probably never replace is the role of the small-town banker. With 8,000 charters, community banks have strong competition, and their deposits finance small businesses and home mortgages. Local bankers made a similar fuss, White says, when regulators allowed regional banks to expand, but most of the local banks found new ways to compete. Local bankers know better than most what happens to those who don't adapt to change. The closest Wal-Mart is 35 miles away, Coup says, but "I've seen the effects that it has on our local grocery...

Author: /time Magazine | Title: Wal-Mart's Bank Shot | 4/17/2006 | See Source »

...country still rebounding from a colossal banking scandal, the D.R. is trying to germinate a new $800 million regional financial center. "Leonel Fernández is very much a vision man ... This is exactly the sort of visionary project he absolutely loves," says Gaetan Bucher, a Swiss-Dominican banker and the lead investor in what will essentially be an offshore entity, first trading Latin American debt and later offering a safe haven for private wealth and corporate banking...

Author: /time Magazine | Title: Emerging Markets: Tropical Paradox | 4/16/2006 | See Source »

...Carolina; chopping wood, delivering ice and digging razor clams in the Pacific Northwest; gardening and doing odd jobs in California. After high school he wrestled at Princeton and pinned down a degree in political science. And after a three-year stint as a Navy pilot, he became an investment banker in Chicago...

Author: /time Magazine | Title: Pentagon Warlord | 4/14/2006 | See Source »

...MURDERED. ANDREW KISSEL, 46, millionaire real estate developer and brother of "milkshake murder" victim Robert Kissel; by unknown assailants; in Greenwich, Connecticut. In 2005, a Hong Kong court convicted Nancy Kissel, Robert's wife, of bludgeoning the investment banker to death after serving him a milkshake laced with sedatives. Andrew Kissel, who faced federal and state charges that he defrauded lenders of $11 million and bilked a Manhattan real estate cooperative out of $4 million, was discovered tied up in the basement of his rental house with multiple stab wounds. He was expected to plead guilty this month to grand...

Author: /time Magazine | Title: Milestones | 4/10/2006 | See Source »

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