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...spectacular allegations put Iguchi in the company of a rogues' gallery of high rollers accused of vast secret transactions that have rocked their firms in the 1990s, spurring some companies to tighten oversight of trading desks. Iguchi's closest kin in scandal is Nicholas Leeson, the Singapore-based derivatives trader who racked up $1.4 billion in hidden losses that broke Britain's Barings Bank when they came to light last February. Like Leeson, Iguchi was simultaneously in charge of making trades and recording them in his firm's back office--a combination that enabled him to conceal the true nature...

Author: /time Magazine | Title: A BLOWN BILLION | 10/9/1995 | See Source »

...that the instinctive but ultimately fruitless pursuit of More--the 60-hour workweeks, the hour a month spent perusing the Sharper Image catalog--keeps us from indulging what Darwin called "the social instincts." The pursuit of More can keep us from better knowing our neighbors, better loving our kin-in general, from cultivating the warm, affiliative side of human nature whose roots science is just now starting to fathom...

Author: /time Magazine | Title: THE EVOLUTION OF DESPAIR | 8/28/1995 | See Source »

...part of our innate social repertoire, and in other ways as well we are naturally crude. But the restraint of crude impulses is also part of our nature. Indeed, the "guilt" that Freud never satisfactorily explained is one built-in restrainer. By design, it discourages us from, say, neglecting kin through unbridled egoism, or imperiling friendships in the heat of anger--or, at the very least, it goads us to make amends after such imperiling, once we've cooled down. Certainly modern society may burden us unduly with guilt. After erupting in anger toward an acquaintance...

Author: /time Magazine | Title: THE EVOLUTION OF DESPAIR | 8/28/1995 | See Source »

Still, many nice features of the ancestral environment can't be revived with bricks and mortar. Building physically intimate towns won't bring back the extended kin networks that enmeshed our ancestors and, among other benefits, made child rearing a much simpler task than it is for many parents today. Besides, most adults, given a cozy community, will still spend much of the day miles away, at work. And even if telecommuting increasingly allows them to work at home, they won't be out bonding with neighbors in the course of their vocations, as our ancestors were...

Author: /time Magazine | Title: THE EVOLUTION OF DESPAIR | 8/28/1995 | See Source »

...military standoff could provide the opening diplomats are looking for. With war-weariness and lower morale setting in, even the Serbs may be interested now. The Contact Group still hopes it can persuade Serbian President Slobodan Milosevic to provide the extra push that will get his Bosnian Serb kin to the bargaining table. If the new offensive that exploded last week shows both sides they are on a path to greater violence in a war neither can win, the moribund negotiations could take on new life...

Author: /time Magazine | Title: INTO BATTLE | 6/26/1995 | See Source »

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