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...hasn't sold out and turned India into a U.S. pawn. The challenge is to spin the nuclear deal as necessary for the country's continued prosperity - and as a bellwether signaling India's rising stature in the global community. The agreement, writes columnist Seema Chishti in the Indian Express newspaper, is a step toward "deciding what kind of India would rise to engage with the rest of the world and its neighborhood...

Author: /time Magazine | Title: Nuclear Brinksmanship | 7/17/2008 | See Source »

...traveling routes that mold the city would show a human ant trail of Wall Street armor, lost tourists, and trendy hipsters. The financial analyst’s brow is lined by the latest economic woes. The leader of the tourist group is dismayed at having boarded the express train rather than the local. The hipster is fretfully correcting the tilt of his trilby hat. When someone is caught in the subway door, the disinterested glances of his fellow passengers reveal not only a minor disdain for the wellbeing of others but an inherent disinterest in them as well...

Author: By Emmeline D. Francis | Title: Welcome to the City | 7/16/2008 | See Source »

Starting in 2000, the IRS went after records from American Express, MasterCard and Visa to track the spending of U.S. citizens using credit cards issued in Antigua, the Bahamas and the Cayman Islands, leading to hundreds of audits and criminal investigations. In a landmark 2005 case, the accounting firm KPMG admitted its employees had criminally generated at least $11 billion in phony tax losses, often routed through the Cayman Islands, which cost the U.S. $2.5 billion in tax revenue...

Author: /time Magazine | Title: Cracking Down on Tax Evaders | 7/16/2008 | See Source »

...increase in the number of bogus parts, just more reports. On my desk in a light blue folder lay a computer printout that clearly indicated the NTSB did not agree. Page after dense page described accidents the NTSB tied to counterfeit parts. For instance, in 1990 a Pan Am Express flight crashed when its nose landing gear jammed "due to the installation of a bogus part by unknown persons...

Author: /time Magazine | Title: FLYING INTO TROUBLE | 7/14/2008 | See Source »

Almost immediately, reports of bogus parts soared. They came in because mechanics noticed an odd color, or that metal edges were rough, or that boxes were improperly labeled. When Federal Express mechanics ran across starters they thought were fakes, their quality-control department and our agents tore the $10,000 piece apart and found reworked scrap and car parts...

Author: /time Magazine | Title: FLYING INTO TROUBLE | 7/14/2008 | See Source »

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