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...Phoenix. From there, they had expected to disperse in search of work harvesting crops. They had covered some 25 miles (40 km) before being caught. Standing with their plastic jugs of water, a few meager supplies on their backs, they looked dazed by the array of force that had gone into their capture: the trucks, the ATVs, the radios, the guns, the bird. If they had been picked up in Yuma Sector, they would have been headed for jail. But there aren't enough courtrooms and cells to handle Tucson Sector's traffic. "They'll probably...
...Unit operating out of San Diego. McPartland is a man of the world--born in Canada, raised in northern England and now an American citizen. After serving in the U.S. Army, he joined the border patrol 11 years ago. "Immigration was a natural for me," he explained, because having gone through the proper channels himself, he resented people who walk into the country illegally. McPartland's sector was the first to put up a border fence, as part of Operation Gatekeeper in the 1990s. Before that fence, San Diego Sector processed close to 1,000 captured illegal aliens on busy...
China's past 25 years "have been the best in its 5,000-year history," writes Philip Pan in Out of Mao's Shadow, but it's a schizophrenic sort of success: the country's new prosperity and global clout have gone hand in hand with graft and repression. Pan, a Washington Post correspondent, argues that China's current woes reflect a desire by the Communist Party and ordinary Chinese to forget the lessons of its tragic recent past. Traumas like Mao Zedong's Cultural Revolution left many cynical, disillusioned and willing to exchange freedom for stability and growth...
Last October, I stood in the back of a packed Manhattan ballroom listening to hedge-fund manager David Einhorn explain to an audience what had gone wrong with Wall Street. Packaging home loans into securities was a "mediocre idea," he said. Repackaging those securities into yet other securities was a downright bad one. Credit ratings were a joke. Investment banks--he mentioned Bear Stearns and Lehman Bros. by name--took too many risks and disclosed too little...
This happens to be a favorite theme of Einhorn's. "The authorities are good at cleaning up fraud after the money's gone," he writes in his new book, Fooling Some of the People All of the Time. But they "really don't know what to do about fraud when they discover it in progress." Einhorn's Greenlight Capital manages $6 billion, most of it invested in stocks that Einhorn actually likes. But Greenlight also makes money short-selling the stocks he doesn't like. Six years ago, Einhorn stood up at a charity event and recommended shorting Allied Capital...