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Under an agreement announced by Swiss and U.S. authorities on Aug. 19, Switzerland's second largest bank, UBS, will disclose the names of approximately 4,450 American account holders suspected by the IRS of evading taxes. In return, the U.S. Justice Department will withdraw its lawsuit against the banking giant...

Author: /time Magazine | Title: Can Swiss Banks Thrive After the UBS-U.S. Deal? | 8/20/2009 | See Source »

Citing the bank-client confidentiality that is guaranteed by the Swiss constitution, the Swiss government had forbidden UBS from complying with the Justice Department's demands and had threatened to seize UBS data to prevent the bank from handing accounts over to the Americans. Earlier this year, UBS had already...

Author: /time Magazine | Title: Can Swiss Banks Thrive After the UBS-U.S. Deal? | 8/20/2009 | See Source »

It starts when I make the left out of the garage and stop at a traffic light. Three little boys crossing the street turn their heads toward me, mouths open. A sanitation-department guy leaning out of his truck admires from above while we wait for the light to turn...

Author: /time Magazine | Title: Test-Driving the New 2010 Camaro SS | 8/19/2009 | See Source »

"This guy worked very, very hard at something he was very good at." - Assistant U.S. Attorney Erez Liebermann of the Justice Department's New Jersey branch (Newsday, Aug. 17, 2009)

Author: /time Magazine | Title: Master Hacker Albert Gonzalez | 8/19/2009 | See Source »

And Afghanistan experts suggest that Obama needs to make that argument now, while Congress is still being patient with the Administration's AfPak policy. "We're going to need time in Afghanistan to be successful," says California Representative Buck McKeon, the ranking Republican on the House Armed Services Committee. Just...

Author: /time Magazine | Title: Afghan Mission Creep: Back to Nation-Building | 8/19/2009 | See Source »

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