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...probably a New York City grifter named William Miller, who fleeced investors out of $1 million--more than $20 million in today's dollars--in 1899. The cons have since grown: a Florida church netted $500 million in a 1990s fraud that promised God would double the money of pious investors. Boy-band impresario Lou Pearlman, in addition to foisting 'N Sync on an unsuspecting public, stole $300 million from clients over two decades. And citizens poured some $1.2 billion into Albanian pyramid schemes after the fall of communism; when the schemes collapsed in 1997, investor outrage toppled the government...

Author: /time Magazine | Title: A Brief History Of: Ponzi Schemes | 1/8/2009 | See Source »

...long as they stay on their side of the street." To which Terkel asks, "Suppose they're on the same side of the street?" You can almost hear the young man consider this for a moment before laughing at himself. "I imagine we might be able to be pious and get along pretty good," he replies. That was Terkel. His effervescence brought out the best in virtually everyone he encountered. His books brought out the best in America...

Author: /time Magazine | Title: Studs Terkel | 12/29/2008 | See Source »

...might think. Objecting to the yuletide festivities on the grounds that they didn't square with the Bible's teachings, in 1659 the founders of the Massachusetts Bay Colony banned the holiday; it wasn't reinstated until 1681. For a war often blamed on secular terrorists, these are some pious roots...

Author: /time Magazine | Title: The War on Christmas | 12/24/2008 | See Source »

...have fleeced more than 1,000 investors to the tune of $80 million. During the 1990s, a Florida church called Greater Ministries International bilked nearly 20,000 people out of $500 million in a pyramid scheme hatched by leader Gerald Payne, who claimed God would double the money of pious investors. (Dominelli pleaded guilty and was sentenced to 20 years in prison, while Payne was convicted and sentenced to 27.) The spate of incidents wasn't limited to the U.S., either. When communism crumbled in Eastern Europe, one of the earliest side effects of free-market capitalism was the proliferation...

Author: /time Magazine | Title: Ponzi Schemes | 12/15/2008 | See Source »

...judge yoga harmless - suggests there is no fixed Islamic position on yoga, just as there is no fixed type of yoga itself. The place of yoga in the lives of most Muslims, I imagine, will not be shifted by Malaysia's fatwa. Those who practice will practice, the super-pious will frown, and the anxious minority will pose questions like this one, which appeared on the site Ummah.com: "But what if someone starts a business, e.g. a spa, which offers yoga...

Author: /time Magazine | Title: Should a Pious Muslim Practice Yoga? | 11/30/2008 | See Source »

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