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Much of the world remains unbanked. China's 1.3 billion people, for example, carry about 10 million credit cards, compared with 1.2 billion in the U.S. In Mexico only 1 in 5 people has a bank account. Rising middle classes in developing countries are low-hanging fruit for multinational financial-services companies. "In the next 25 years, you'll see economic wealth distributed more evenly with the world's population," says John Bond, HSBC's outgoing chairman. "Demand for financial services in emerging markets is going to grow consistently and probably grow faster than it will in the more mature...

Author: /time Magazine | Title: banking: The Bank That Ate the World | 1/22/2006 | See Source »

...vendor’s license. “The First Amendment was my vendor’s license,” he says.He went to the Brattle Book Shop, which adjoins the Boston Common, and talked the owner into selling him a suitcase full of 18th-century books on credit. Then he set up shop on a patch of Square pavement and sold books to passersby at lunchtime.Within a year, he had learned about rare books and how to find good ones. Soon, his customers included Houghton Library, which holds Harvard’s rare book and manuscript collection...

Author: By Virginia A. Fisher, CRIMSON STAFF WRITER | Title: Bookbinder Doubles As Inventor | 1/18/2006 | See Source »

...outpouring of generosity. Your honorees are not only appropriately symbolic of that philanthropy, but also unique examples of individuals who, by virtue of their wealth and fame, can change the course of history. What your story revealed, however, was that not just their wealth and fame heightened their impact. Credit the Gateses for learning firsthand about the diseases of the poor, then making careful choices about the deployment of dollars to ensure the greatest possible return for humankind. Credit Bono for his uncommon ability to build trust and empathy across an eclectic group of influential people. That is the kind...

Author: /time Magazine | Title: The Good Samaritans | 1/17/2006 | See Source »

...know that SunCruz now was in honest hands," according to a source familiar with the case. In an Oct. 23 e-mail, Abramoff proposed throwing $10,000 at the NRCC in the form of a SunCruz check signed by Kidan. The money was sent within days, and Ney got credit within the G.O.P. for raising it. Ney then inserted praise for Kidan into the Oct. 26 Congressional Record...

Author: /time Magazine | Title: Quid Pro Quo?: Jack Abramoff's $10,000 Question | 1/15/2006 | See Source »

...outpouring of generosity. Your honorees are not only appropriately symbolic of that philanthropy but also unique examples of individuals who, by virtue of their wealth and fame, can change the course of history. What your story revealed, however, was that not just their wealth and fame heightened their impact. Credit the Gateses for learning firsthand about the diseases of the poor, then making careful choices about the deployment of dollars to ensure the greatest possible return for humankind. Credit Bono for his uncommon ability to build trust and empathy across an eclectic group of influential people...

Author: /time Magazine | Title: Letters: Jan. 23, 2006 | 1/15/2006 | See Source »

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