Word: oiled
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Dates: during 1990-1999
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Vasiljevic had little trouble meeting the interest payments at first. Western experts say his bank ran a classic Ponzi scheme, using new deposits to pay the interest on old ones. At the same time, diplomats say, Vasiljevic used his customers' hard currency to buy sanctioned goods like oil on the black market and sell it for a handsome profit. Vasiljevic denies all the charges. "The wonderful thing about sanctions is that they create real profit opportunities," says a State Department official. "When you have these rates of inflation, anytime you can use someone else's money for a short time...
Nonetheless, the banker's deals have helped prop up Serbian President Slobodan Milosevic. When heating-oil supplies fell dangerously low last October, the banker loaned Belgrade $2.5 million to bolster the city's depleted reserves before winter. He now wants the loan repaid directly to Jugoskandik depositors...
...full-time job, but Dorfman is also one of the section's more prolific reporters. A biology major at Yale, where she was also science editor of the Yale Daily News, she has covered everything from the Neolithic Iceman found in an Alpine glacier to the Exxon Valdez oil spill to genetic engineering. She was also one of the organizing hands behind TIME's intensive treatment of the 1992 Earth Summit. Still, Dorfman, who keeps a small collection of fossils herself, has a fondness for things that come out of the past to enlighten the present. Without old bones, Dorfman...
Paradoxically, one source of friction with other countries has been lessened. Explains Peter Tasker, a strategist for the investment-banking firm Kleinwort, Benson International: "This is the first recession in Japan that is wholly homegrown. They can't blame the Arabs for an oil-price increase or the unions or the Americans...
That's the first and last romantic view of Charlie Kate, a blunt and righteous woman who eats garlic on toast for breakfast, smells of mothballs and ties her "resolute shoes" with 30-year-old laces soaked every Sunday in linseed oil ("My shoestrings," she says, "have lasted years longer than most people can stand each other"). An eccentric who knows as much about Thomas Hardy's novels as she does about cirrhosis of the liver, Charlie Kate is in fact a healing genius who uses herbal cures like evening primrose and Saint-John's-Wort, as well...