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...only 2.43% of the Dow's value, a far cry from catastrophe. Sure enough, the plunge soon halted, and on Friday the Dow stormed back 36.06 points--its eighth-best day ever--to close the week at 1874.19. What really jolted the nerves of Wall Streeters, though, was the fallout from the Dennis Levine insider-trading scandal, the worst in history. Paranoia swept the close-knit investment community a week after Levine, 33, a former managing director at the firm of Drexel Burnham Lambert, pleaded guilty to criminal charges of income tax evasion, securities fraud and perjury and settled...

Author: /time Magazine | Title: CIRCUS TIME Wall Street reels over scandal | 7/21/2008 | See Source »

...grow up to become a jeweler, a carpenter, a snake charmer, a rag picker, a midwife, a weaver or a cobbler. Although the caste system was outlawed in India's founding constitution 60 years ago, caste still shapes the lives of millions of people who continue to live in close-knit caste communities throughout the country. Such clans are especially common among India's rural poor and urban slum dwellers. Many urban dwellers, like the people of Kathputli, brought their rural traditions with them when they migrated to the cities...

Author: /time Magazine | Title: Magic Abounds in a Delhi Slum | 6/20/2008 | See Source »

...their game,” Chin-Lee says. “It’s a lot of fun to watch.” Harvard Aikikai, an official dojo of the United States Aikido Federation, is now in its 28th year. The club has attracted a close-knit group of undergraduates through its free classes, open to the entire undergraduate community. These events provide personal training from professionals like Sioux Hall, Harvard Aikikai’s Chief Instructor, who has been teaching Aikido across North America for more than 20 years. Though the instructors practice advanced techniques, Harvard Aikikai?...

Author: By Mark A. Vanmiddlesworth, CONTRIBUTING WRITER | Title: Aikikai Kicks Off Weekend | 4/29/2008 | See Source »

...already diverse language of jazz provided a fitting conclusion to the weekend.The conference opened with a keynote conversation between Dr. Getatchew Haile, a former member of the Ethiopian parliament who arrived in the United States in 1976, and his daughter, author Rebecca Haile. Dr. Haile asserted that a close-knit Ethiopian immigrant community is essential to preserving his country’s traditions, but his daughter felt that traditionalist attitudes must adapt to globalization. She highlighted the broad spectrum of unconventional Ethiopian American identities that have flourished as immigrants encounter new cultures and take advantage of recent communications technology.This tension...

Author: By Mark A. Vanmiddlesworth, CONTRIBUTING WRITER | Title: Ethio-Jazz from Either/Orchestra | 4/17/2008 | See Source »

...parties that competed in the election have nearly identical platforms, but accusations (mild by Western standards) of influence-peddling and smear tactics have begun to enter the discourse, and people are worrying that Bhutan's close-knit society will suffer. Lyonpo Sonam Tobgye, Bhutan's Chief Justice and the main architect of the draft constitution, understands that there should be political debate but laments that differences are splitting villages and even families. "I don't think we should be enslaved to the nature of politics," he says...

Author: /time Magazine | Title: Postcard: Bhutan | 3/27/2008 | See Source »

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