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...those who don't recall, Leeson was 27 years old, living in Singapore, and trading futures contracts based on the Nikkei stock index and Japanese government bonds when he got into trouble in the mid-'90s. He was anything but one of the investment banking "Masters of the Universe" made famous by Tom Wolfe in the 1980s. He was a relatively ordinary young professional on an obscure trading desk, who bet the wrong way on the Nikkei's direction; then he doubled down, trying to recoup the firm's money, and lost again. At one point in early...

Author: /time Magazine | Title: Masters of Mayhem | 1/31/2008 | See Source »

...Clinton's presidency: he brought whites and blacks together, after years of racial tension, even within the Democratic Party. He was the first President to talk easily with blacks, as equals, without condescension. He was the best white politician I have ever seen in a black church. The bond he built with that community seemed unbreakable. And so it was shocking-heartbreaking-to see it shattered in South Carolina, shattered by a thoughtless, solipsistic need for victory at any cost...

Author: /time Magazine | Title: The Spoiler | 1/30/2008 | See Source »

...told by someone close to the President that he thinks he won New Hampshire for Hillary Clinton. If so, he is wrong. Senator Clinton won New Hampshire on the strength of her bond with working women. Indeed, I would guess that she was well on her way to winning the Democratic nomination on the strength of her performance in debates-in which she routinely left Obama seeming green and tongue-tied-and the strength of the smart, nuanced positions she took on issues like health care and energy independence. But most of all, Clinton conveyed the impression that...

Author: /time Magazine | Title: The Spoiler | 1/30/2008 | See Source »

...Since its creation in 1937 on the grounds of a 19th-century manor house just outside London, Pinewood has been used for some 1,500 movies - Great Expectations, Dr. Strangelove and Sweeney Todd among them. All the James Bond films, except Goldeneye, were shot here. In recent years, however, Pinewood and its nearby sister studio, Shepperton, have faced competition from low-cost Eastern European countries. Britain will never be an inexpensive place to make movies, but Pinewood hopes to remain competitive with this one-stop-shop concept, creating economies of scale by combing popular permanent sets with Britain's experienced...

Author: /time Magazine | Title: Wanna Live on a Movie Set? | 1/29/2008 | See Source »

...Michael Mansfield, the acid-tongued attorney representing Harrods tycoon Mohamed Al Fayed, apologized to the Lady in advance for reigniting "painful memories" and promised to be "careful" with his words. Then he attempted to dismantle the sisterly bond. Diana, he argued, withheld many of her plans from Lady Sarah - for instance, that she was assembling information to expose companies involved in the deployment of mines in areas like Angola, and that she supplied Andrew Morton with third-party recordings for his tell-all book Diana. "[Our relationship] was fine," Lady Sarah snapped. "I am not saying it was not fine...

Author: /time Magazine | Title: Diana's Sister Testifies at Inquest | 1/29/2008 | See Source »

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