Word: bankes
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...billion in debt. As his star was sinking, Wiedeking went from hero in the German public's eye to a victim of his own massive hubris. In his way, Wiedeking is Germany's symbol of the greed generation, just as Bernie Madoff is in the U.S. or the Royal Bank of Scotland's Fred Goodwin is in Britain. Not a criminal like Madoff, obviously, but someone who overreached, who dreamed too big. "Porsche is another example of how the gambling mentality in global casino capitalism has infiltrated even the most down-to-earth companies and industries in Germany," complained Joachim...
...largest corruption stings in New Jersey's malodorous history. The FBI did what cops normally do when they catch a thief in the act and don't think he's acting alone - they make him an informant. The informant in this case was a failed developer turned bank-fraud artist named Solomon Dwek, who then hung out his shingle as a bankruptcy fraudster who would launder money or buy off politicians for a small fee. The feds threw Dwek in the water like chum and waited to see what else they could catch. (Read a 1973 TIME article on corruption...
...Brooklyn and laundering the money through a charity at his synagogue in Deal, N.J., on behalf of unknown persons in Israel. And as for petty officials of the Garden State - building inspectors, councilmen, deputy mayors and the like - you could imagine the FBI's relatively small office in Red Bank, N.J. frantically trying to arrange all the necessary surveillance to collect the evidence flooding in like the Navasink River at high tide. ("Hello, Radio Shack, I need 100 tape recorders. Yes, today.") In Thursday's big bust, more than 300 FBI agents were needed to make all the raids...
...taking it upon himself," as a top adviser put it, to make the hard-line national-security case to the President. Cheney didn't lose every fight, but he was no longer winning them all either. And his backup vanished. Pentagon official Paul Wolfowitz moved to the World Bank in early 2005. Libby was indicted in October of that year and left the government. John Bolton resigned his post as U.S. ambassador to the U.N. the same month Rumsfeld left the Pentagon in 2006. Cheney's allies no longer manned the key points in the national-security flow chart. "Cheney...
What effect will this have on East Africa? A recent World Bank report found that countries experience 1.3% economic growth for every 10% increase in high-speed Internet connections, but sub-Saharan Africa has some unique challenges. Only 5.9% of Africans are connected to the Internet, and most are in North African countries such as Egypt and Algeria. That compares to 26.9% for the rest of the world. To put those numbers in perspective, consider this: Just 17% of people in sub-Saharan Africa have access to electricity...