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Ponzi wasn't the scam's first practitioner; that was probably a New York City grifter named William Miller, who fleeced investors out of $1 million--more than $20 million in today's dollars--in 1899. The cons have since grown: a Florida church netted $500 million in a 1990s fraud that promised God would double the money of pious investors. Boy-band impresario Lou Pearlman, in addition to foisting 'N Sync on an unsuspecting public, stole $300 million from clients over two decades. And citizens poured some $1.2 billion into Albanian pyramid schemes after the fall of communism; when...

Author: /time Magazine | Title: A Brief History Of: Ponzi Schemes | 1/8/2009 | See Source »

...qualms about the debt take a backseat to worries about a depression, the scope of the stimulus plan has grown to include everything from expanding Pell grants for college students and health care for the unemployed to investment in renewable energy. Instead of temporary measures meant to prop up the sagging economy over the next two years, much of what has been proposed looks like a laundry list of Obama campaign promises. If the plan is passed, Obama will get, in one fell swoop, a running start on large swaths of his long-term agenda, the ultimate cost of which...

Author: /time Magazine | Title: Obama's Stimulus: Jump-Starting His Long-Term Agenda | 1/8/2009 | See Source »

...much as any other nation on earth, Israel is based on a dream: the aspiration to establish a home for the Jews in the birthplace of their ancestors. To a remarkable extent, that dream has been fulfilled, as Israel has grown into the most modern and democratic country in the Middle East and a dependable American ally. A strong, confident Israel is in America's interest, but so is one that can find peace with its neighbors, cooperate with the Arabs to contain common threats and, most important, reach a just and lasting solution with the Palestinians. But accomplishing...

Author: /time Magazine | Title: Can Israel Survive Its Assault on Gaza? | 1/8/2009 | See Source »

...leos de Venezuela - would give millions of gallons of heating oil at half price, and eventually free, to struggling households in the American Northeast and Midwest. By this year, the service has expanded to more than 200,000 families in 23 states. The partisan controversy around it has also grown. Republicans grouse that taking fuel from Chávez, America's chief antagonist in the hemisphere, is unpatriotic and simply aids his anti-U.S. foreign policy. Democrats and advocates for the poor disagree. In a website video for Boston-based Citizens Energy, which helps distribute the Citgo oil, director...

Author: /time Magazine | Title: Why Can't Big Oil Match Hugo Chávez? | 1/7/2009 | See Source »

...Kagan won students’ approval by providing free coffee, hot chocolate, and bagels, installing an ice skating rink, and renovating the student center. These small changes paid huge dividends, humanizing a school that had grown synonymous with impersonal treatment and apathy towards student life, students said...

Author: By Elias J. Groll, CRIMSON STAFF WRITER | Title: Students, Faculty Lament Departure Of Popular Dean | 1/7/2009 | See Source »

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