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...largest global banking scandal ever. As the most recent owner of the notoriously corrupt Bank of Credit & Commerce International, which regulators closed earlier this month, Zayed has become the unwitting goat for nearly two decades of alleged fraud by the bank's Pakistan-based managers and for years of neglect by banking authorities around the world. After investing $1 billion to shore up B.C.C.I. since he acquired it last year, Zayed faces the humiliation of losing control of the bank, and the moral -- if not legal -- responsibility for helping to bail out depositors who were victims of fraud...

Author: /time Magazine | Title: Scandals: Taken for a Royal Ride | 7/22/1991 | See Source »

...tacitly tolerated adultery, strive to have fun in what is for them a queasy setting: a gay ghetto on Fire Island, near New York City, where one of them inherited a house from a brother who died of AIDS. But they experience the gift as a reproach for past neglect, and with one set of too near neighbors blaring opera while the other revs up show tunes, they feel like interlopers, a misfit minority. This gay-straight conflict, subtly mused on, lifts Terrence McNally's LIPS TOGETHER, TEETH APART beyond tragicomic tone poetry about the lonely vagaries of wedlock. Since...

Author: /time Magazine | Title: Theater: Icebound on Fire Island | 7/22/1991 | See Source »

...writings and speeches Thomas has described his inner conflicts, calling himself a child of hatred and love, of malign neglect and compensating family attention, of painful encounters with white racism and the healing guidance of an order of Irish Catholic nuns. The President could hardly have picked a nominee whose early life better demonstrates self-help, Horatio Alger and Booker T. Washington combined in one man's struggle...

Author: /time Magazine | Title: The Supreme Court: Marching to a Different Drummer | 7/15/1991 | See Source »

...York City. From 1964, when he first displayed his photo-based collages at Cordier & Ekstrom gallery in Manhattan, he had a steady market at high prices -- not, certainly, the crazed inflationary ones of the '80s, but respectable all the same. Most artists would kill for this kind of neglect and misunderstanding. So what does the case for Bearden-as-unjustly-marginalized-artist rest on? Apparently his exclusion from the "mainstream" of American art as defined by American white art historians, which happened, the catalog implies, because Bearden was black...

Author: /time Magazine | Title: Art: Romare Bearden: Visual Jazz from a Sharp Eye | 6/10/1991 | See Source »

...safe and ignored its contents. When Angleton's successor, George Kalaris, followed up the information, all of the 20 leads it contained resulted in arrests and convictions of important Soviet agents. "In each instance," says Mangold, "spies continued to operate for seven to 10 years because of Angleton's neglect...

Author: /time Magazine | Title: Stalking The Red Intruders | 5/20/1991 | See Source »

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