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...Paris courtroom last week, 42 officials went on trial for taking millions in kickbacks and organizing huge arms commissions from the Angolan government during the mid-1990s. In the dock were such big names as Charles Pasqua, a former French Interior Minister; Jean-Christophe Mitterrand, the son of the late French President François Mitterrand; and Russian-Israeli billionaire Arkadi Gaydamak, who is currently a candidate for mayor of Jerusalem. The group is charged with having supplied almost $800 million worth of arms to Angolan President José Eduardo Dos Santos, including 12 helicopters, 6 naval vessels...

Author: /time Magazine | Title: The Arms Trade Booms Amid Global Economic Woes | 10/14/2008 | See Source »

...doesn't want to be the final guy to join the lynch mob. Rather than a denunciation of Bush (hagiography is out of the question), he offers a fairly straightforward life. The film moves simultaneously on two chronological tracks: Bush's life from his Yale undergraduate days in the mid-'60s to his governorship of Texas in the mid-'90s, and his Administration's 2002 preparation to invade Iraq...

Author: /time Magazine | Title: Oliver Stone's Verdict on George W. | 10/13/2008 | See Source »

...have also been harmed by their investment in so-called "mini-bonds," complicated structured financial products marketed throughout the world by now-failed Lehman Brothers. Hong Kong banks allegedly sold investors the mini-bonds as a relatively low-risk alternative to fixed-income investments. When Lehman Brothers collapsed in mid-September, the derivatives lost much of their value. Companies that invested their deposits in them now find themselves unable to cover the difference, Lau says...

Author: /time Magazine | Title: Asian Stocks Rebound After Last Week's Record Rout | 10/13/2008 | See Source »

...Association All-American Championship in Tulsa, Okla., while the rest of the team traveled to South Bend, Ind. to play in Notre Dame’s Tom Fallon Invitational. It was a frustrating long weekend for Clayton, who, having beaten the nation’s No. 17 player in mid-September, came in with high expectations for success against his elite competition. “I had one of those days where just nothing was going right,” Clayton said of his 6-2, 6-0 loss to eventual quarterfinalist Michael Shabaz of Virginia. “Every...

Author: By Jonathan B. Steinman, CRIMSON STAFF WRITER | Title: Crimson Divides, Can’t Conquer Over Extended Weekend | 10/13/2008 | See Source »

...wake of Saturday's G7 meeting in Washington, where leaders said government intervention would be taken in all the world's major economies to prevent major banking failures and loosen frozen credit. It all proved enough for markets to take heart again, at least for now. By mid-morning, London's FTSE 100 was up 6%, Paris' CAC 40 rose 6.68%, and Frankfurt's DAX jumped 6.25% - a remarkable turn-around from last week's battering that ended Friday with losses of 7% to nearly 9%. Most indices in Asia similarly rebounded, with Hong Kong's Hang Seng rising...

Author: /time Magazine | Title: European Markets Rise in Relief | 10/13/2008 | See Source »

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