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...their lethal contents. Allied planners are tracking Iraq's efforts to convert training jets into "drones of death" carrying tanks of liquid anthrax that could be sprayed over Israel. Military experts are confident the U.S. and its allies could shoot down such slow-moving planes before they pose a danger to civilians. "One of the reasons invasion is a plausible option is precisely because Iraq is so weak," says Gary Samore, who headed the National Security Council's nonproliferation policy in the Clinton Administration. "It has very few credible options for causing mass casualties...

Author: /time Magazine | Title: Can They Strike Back? | 2/3/2003 | See Source »

Even some old agency hands think the CIA should stick to intelligence and leave the commando work to the military. "Agency operators lack the experience to be effective military operators," says Larry Johnson, a former CIA officer and State Department counterterrorism expert. "They have just enough training to be dangerous to themselves and others." And there is the historic danger that CIA paramilitary operations, cloaked in layers of secrecy, can become rogues. "Everybody has seen this movie before where secret wars have developed into public disasters," warns John Pike, director of GlobalSecurity.org a defense and intelligence think tank...

Author: /time Magazine | Title: The CIA's Secret Army: The CIA's Secret Army | 2/3/2003 | See Source »

...most obvious danger lies in the melting that would occur if the temperature of Antarctica's salty, frigid waters climbed well above freezing. A greater if less obvious danger is that rising sea levels could undermine the ice sheet, triggering its collapse. Experts are concerned that if the West Antarctic Ice Sheet broke apart in this fashion, global sea levels could rise as much as 16 ft. in just a few decades...

Author: /time Magazine | Title: Cracking The Ice | 2/3/2003 | See Source »

...rules could put many major Japanese banks in imminent danger of failing to keep their ratio of capital-to-assets above 8%?a crucial industry minimum that banks must maintain to conduct business internationally. More importantly for executives looking to save face (and their jobs), 8% is also the magic number at which the FSA can forcibly recapitalize a bank or place some operational control in government hands. Desperate to raise capital, Japanese banks are finally overcoming their deeply ingrained disdain for foreign investors. American investment bank Merrill Lynch was recently allowed to take an $849 million stake...

Author: /time Magazine | Title: Too Big to Fail? | 1/27/2003 | See Source »

...Short of finding a smoking gun, Blix's report couldn't have been better for U.S. efforts to win international consent for military action against Iraq. France, Germany, Russia and China remain unconvinced by U.S. allegations that Iraq represents an imminent danger, and oppose military action right now, insisting instead that the inspection process be given more time. Britain backs the U.S. position but the skepticism of the British electorate requires that Washington seek UN authorization for an attack. Iraq's Arab and Turkish neighbors oppose a war, but have resigned themselves to its inevitability and have put the onus...

Author: /time Magazine | Title: Why the U.S. Won't Declare War — Yet | 1/27/2003 | See Source »

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