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...neighbor, who had been inside eating breakfast, came tumbling into the street. "There was an explosion," Mudakir recalls. "Then the mud started to flow." He gaped in amazement as a geyser of scalding sludge shot five meters into the air, collapsing the roof of his neighbor's house. Mudakir froze. Then he gathered his mother and two brothers from inside his own house. "The whole village was panicking. Everyone ran." Mudakir didn't stop to collect his family's belongings. He assumed he'd be able to return home...

Author: /time Magazine | Title: A Wound in The Earth | 2/28/2008 | See Source »

...defense, the Prime Minister had little option but to take on Northern Rock, which was caught short of cash after the money markets it depended on for funds froze over last fall. There were two private bids - one from Richard Branson's Virgin Group, another from the bank's own management. But the Treasury's statements indicated that they fell short of offering enough in return for the $100 billion in loans and guarantees made to Northern Rock by taxpayers. Goldman Sachs, the investment bank advising the government on its handling of the company, didn't disagree...

Author: /time Magazine | Title: Will Northern Rock Sink Brown? | 2/18/2008 | See Source »

...average Burmese. These measures have worked against tyrants before; they disabled Serbian tyrant Slobodan Milosevic's finances and put pressure on North Korean strongman Kim Jong Il - after Washington publicly identified a bank in the Chinese territory of Macau as a major conduit for North Korean money, the bank froze many North Korean accounts...

Author: /time Magazine | Title: Pre-Emptive Strike | 2/14/2008 | See Source »

Last year, Princeton froze tuition costs, but overall student fees climbed by 4.2 percent, according to the Daily Princetonian...

Author: By Alexandra perloff-giles, CRIMSON STAFF WRITER | Title: Yale and Princeton Limit Tuition Hike | 2/5/2008 | See Source »

...lackluster results last September, spooked savers across the U.K. began a run of their own on the bank whose roots in Newcastle stretch back 150 years. While the team was losing three of its five games that month, Northern Rock - caught short of cash when global credit markets froze last summer - was losing billions of dollars as punters desperately pulled their deposits. With the club and its backer in free fall in recent months, "the northeast has been feeling pretty battered and bruised," says Aitken...

Author: /time Magazine | Title: Between a Northern Rock and a Hard Place | 1/21/2008 | See Source »

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