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...while Thomsen's press-release drafts were still being proofed, the SEC announced on Monday that it had reached an agreement with Madoff over a partial judgment on civil penalties related to his alleged masterminding of the now infamous $50 billion Ponzi scheme, considered the largest in history. A Ponzi is a fraud in which money from new investors is used to pay off previous investors...

Author: /time Magazine | Title: Mary Schapiro Moves Quickly to Shake Up the SEC | 2/11/2009 | See Source »

Earlier this week, the Securities and Exchange Commission cut a deal with Madoff, settling a civil case against him where he accepted a permanent asset freeze and agreed to the SEC's complaints against him were "established" and could not be contested. Madoff consented without "admitting or denying the allegations" that he allegedly ran the decades-long fraud under the nose...

Author: /time Magazine | Title: Ruth Madoff Withdrew $15.5 Million Prior to Husband's Arrest | 2/11/2009 | See Source »

...with Western nations. Though his outfits remain ridiculous, his current identity is not one of warrior against the West, but “King of Kings,” as Gaddafi had himself declared in high style at a public ceremony in Libya last year. With its record of civil war, coups, and regime changes, the African community cannot ignore any ruler who has held power for as long as Gaddafi. Even if they tried, they would be hard-pressed to forget a self-proclaimed high king with such a flair for the dramatic—who happens to rule...

Author: By Alexander R. Konrad | Title: Crowning the King of Kings | 2/10/2009 | See Source »

...This government will be expected to expedite the crafting and adoption of a people-driven constitution that restores both Zimbabweans’ freedoms and civil liberties while ensuring the restoration of the rule of law, among other things. Will this inclusive government succeed, or will it falter and betray the long-suffering Zimbabweans? Any guess is a good one— the jury is still out. In the meantime, this deal should be given a chance. Zimbabweans have begun to dream again...

Author: By Brighton Mudzingwa | Title: The Bittersweet Zimbabwe Deal | 2/8/2009 | See Source »

...government building in the southern city of Cali in 2002, announced a bomb threat and then herded a dozen lawmakers, including Lopez, aboard a bus and drove them into the mountains. But the operation ended up in one of the ghastliest blunders of Colombia's four-decade-long civil war. In June 2007, guerrilla guards mistakenly thought they were under attack by the army and, in a panic, executed 11 of the hostages. Lopez alone survived the massacre because he was being held in solitary confinement in another part of the rebel camp...

Author: /time Magazine | Title: Colombia: A Make-Over for Stumbling Rebels | 2/8/2009 | See Source »

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