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...Merrill felt its reputation was beginning to suffer. It finally agreed to settle, without admitting wrongdoing, on the condition that there be a broad agreement precluding similar suits by other zealous state attorneys general. The deal was pounded out. In the end, Spitzer says, he didn't negotiate the fine. He called Merrill Lynch's lawyers and recalls saying, "It's $100 million. It won't kill you. I want this settled tonight." Merrill agreed to pay the fine, apologize and reform the way it paid its analysts. The public applauded the deal, though Spitzer was criticized. Some felt...

Author: /time Magazine | Title: Eliot Spitzer: Wall Street's Top Cop | 12/30/2002 | See Source »

...Fine. But it is bad history and worse public relations to pretend that Islam has always been pacific (it would not have grown so far and so fast had it been so), sensitive to the rights of women and protective of other faiths and people of "the book." Just as the history of Christianity has not always been a testament to the lessons of the God of love, so is Islam's past--and present--speckled with intolerance and bloodshed. What the world needs is not a hagiography of the Prophet or an apologia for Islam but a clear sense...

Author: /time Magazine | Title: Islam's Prophet Motive | 12/23/2002 | See Source »

...Canada and Britain, but NetLine of Tel Aviv--a leading manufacturer along with Medic, based in Tokyo--says the U.S. and Europe are its biggest markets. The U.S. Federal Communications Commission says it knows of no arrests of people using jammers but warns that they risk an $11,000 fine and a year in prison...

Author: /time Magazine | Title: Global Briefing: Global Briefing: Dec. 23, 2002 | 12/23/2002 | See Source »

...Sino-Japanese War, nothing at the exhibition addresses recent traumas, events still imbued with fresh political sensitivity. An installation inspired by last year's U.S. spy plane incident off Hainan Island was scrapped right before the exhibition was set to open, without explanation by authorities. The government is fine with history, so long as it's kept in the past...

Author: /time Magazine | Title: China's Art Scene: the Naked Truth | 12/23/2002 | See Source »

...smuggle them to China, and of lying to the fbi; in Syracuse, New York. Airport security officials found more than 250 test tubes and petri dishes containing ingredients to improve livestock nutrition concealed in his luggage. Yin faces a maximum 15 years in jail and a $500,000 fine...

Author: /time Magazine | Title: Milestones | 12/23/2002 | See Source »

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