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...plane carrying three U.S. military contractors crash-landed in rebel territory in southern Colombia. The survivors - Marc Gonsalves, Keith Stansell and Thomas Howes - were taken hostage by fierce Marxist guerrillas the Colombian Revolutionary Armed Forces, better known by the Spanish acronym FARC. The initial rescue operation fell apart. Instead of finding the contractors, two companies of Colombian soldiers stumbled upon a buried rebel cache of $20 million, then deserted and splurged their newfound fortune on booze, sex and flat-screen televisions. The forgotten hostages spent the next five years in captivity. But with the help of billions of dollars...

Author: /time Magazine | Title: A Hostage Rescue in the Colombian Jungle | 2/17/2010 | See Source »

...engines would also allow for a faster getaway. The pilots could follow the action through a microphone hidden inside the TV camera, and if the rebels discovered the deception, Russi would tip off the pilots so they could at least save themselves. (See a video of Holy Week in Colombia...

Author: /time Magazine | Title: A Hostage Rescue in the Colombian Jungle | 2/17/2010 | See Source »

...plane carrying three U.S. military contractors crash-landed in rebel territory in southern Colombia. The survivors - Marc Gonsalves, Keith Stansell and Thomas Howes - were taken hostage by fierce Marxist guerrillas the Colombian Revolutionary Armed Forces, better known by the Spanish acronym FARC. It would take five years, and the help of billions of dollars in U.S. aid, before commandos of the Colombian Army were able to launch a daring, Mission: Impossible-style sting operation in a bid to save the hostages. Colombian planners of the July 2008 operation were probably keen to avoid the fate of the earliest rescue attempt...

Author: /time Magazine | Title: In Colombia, A Bungled First Rescue Attempt | 2/17/2010 | See Source »

...like they were eating their young. Others couldn't keep anything down. Now, drifting in the netherworld between sleep and consciousness, Suárez twisted and turned in his hammock until he finally popped awake in the early- morning light. His stomach was about to detonate. (See TIME's Colombia covers...

Author: /time Magazine | Title: In Colombia, A Bungled First Rescue Attempt | 2/17/2010 | See Source »

...Colombia and Chile experienced similar, if less dramatic, run-ups in their currencies in 2009, and Latin America remains the region to watch in 2010. Greg Anderson, director of currency strategy at Société Générale Global Markets in New York likes Mexico best, noting its peso could repeat the performance of last year's hottest Latin-American currencies, helped by comparatively high interest rates, currently at 4.5% but expected to trend upwards to 5.75% by year end. Also, Mexico's government is pursuing a hands-off approach to currency markets...

Author: /time Magazine | Title: The Carry Trade: Betting on Bad Currencies | 2/11/2010 | See Source »

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