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...nation's banks managed assets of around $52 billion; by 2006 that figure had surged to more than $150 billion. Clearly there aren't enough Liechtensteiners to pile up that much cash. No wonder the principality has always rebuffed Berlin's demands for the names of German citizens with accounts there. Without the protection offered by its banking-secrecy provisions, Liechtenstein's financial-services boom would quickly die. Hans-Martin Uehlinger, a spokesman for LGT Group, is uttering Liechtenstein gospel when he says, "Paying taxes is the responsibility of the customer, not the bank...

Author: /time Magazine | Title: Saving a Banking Boom from Berlin | 2/28/2008 | See Source »

...been reinforced by the companies employing 25,000 workers in 44 states building the F-22 - the prime contractor is aerospace giant Lockheed Martin - and their allies in Congress. That is what is so insidious about these lists: once Congress gets a hold of them, they're used as pile drivers to pound extra billions into the Pentagon budget, generally by lawmakers seeking to fund jobs in their districts...

Author: /time Magazine | Title: The Air Force Reaches for the Sky | 2/22/2008 | See Source »

...have a dog in this latest fight - or even understand it much - but if someone wants to quit the firm, it seems to me you ought to let him go. The tension arises, of course, because the ones eyeing the door usually want to take a pile of the firm's assets along with them. And you do have to question where this will end. Will some family named Knezevic decide it's time to secede from northern Kosovo? Will Bob, the Kenezvics' 17-year-old son who doesn't really talk to anyone at holiday dinners anymore, decide...

Author: /time Magazine | Title: Enough With the New Countries | 2/22/2008 | See Source »

Umma Aman said she wanted to die for her God. She was sitting on a pile of sandbags, pressing wet rags to her eyes in an attempt to ease the effects of the clouds of tear gas billowing through her madrasah. Outside, gunfire echoed through the deserted streets of Islamabad as the Pakistani military battled militants holed up in the mosque next door. Aman, just 22, had wanted to fight alongside her brothers, as she called them, in defense of the Red Mosque and Jamia Hafsa madrasah complex that had been the conservative heartbeat of Pakistan's capital for decades...

Author: /time Magazine | Title: A Matter Of Faith | 2/21/2008 | See Source »

...added interest and late fees that typically pile up when more consumers are late to pay or exceed their credit limit?thus triggering a higher rate?are feeding a consumer backlash that is gaining strength. In 2007, 11,427 people filed complaints with the Office of the Comptroller of the Currency, which oversees bank-issued cards?a 13% increase over...

Author: /time Magazine | Title: Exposing the Credit-Card Fine Print | 2/21/2008 | See Source »

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