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...Fazio finally stepped down last month. While several key private Italian bankers are being investigated in probes of two bank takeovers that Fazio green-lighted, Fazio denies any wrongdoing. (Last week, three more financial executives resigned, and the banker closest to Fazio, Gianpiero Fiorani, was interrogated in the Milan prison where he awaits trial on corruption charges. He has previously denied any wrongdoing.) Draghi, 58, who arrives at the Bank of Italy from Goldman Sachs' London office, will have to do more than just image polishing. Stefano Caselli, professor of banking and finance at Milan's Bocconi University, expects...

Author: /time Magazine | Title: Boosting The Bank's Credit | 12/31/2005 | See Source »

...slamming Mubarak as a dictator. He had to run his presidential campaign beneath the cloud of the forgery allegations and then in elections last month lost his parliamentary seat amid widespread allegations of voter intimidation. To seal his fate, a state security court sentenced Nour to five years in prison last week and had him hauled off to begin serving his time. Even if Nour is exonerated on appeal, his lack of a parliamentary seat removes him from eligibility to run for president again in six years...

Author: /time Magazine | Title: The Bumpy Road of Reform for Egypt | 12/27/2005 | See Source »

...Anyone worried that Broadway has no room for anything but tourist-friendly comfort food could only marvel at the arrival of this hair-raising drama from McDonagh (The Beauty Queen of Leenane). A writer of sadistic children's stories is thrown into prison on suspicion of committing a string of grisly child murders, in a play so intense and disturbing that some critics (and many in the audience) tried to pass it off as a comedy...

Author: /time Magazine | Title: Best of 2005: Theater | 12/26/2005 | See Source »

...Fleece awards to highlight wasteful spending by the government. Among the winners: an alcohol-abuse agency's $102,000 tab to determine whether drunk fish were more aggressive than sober ones; and a law-enforcement group's $27,000 study to find out why inmates try to escape from prison...

Author: /time Magazine | Title: Milestones Dec. 26, 2005 | 12/19/2005 | See Source »

...comeback queen of 2005? Definitely Martha Stewart, who not only parlayed her sojourn in prison into two TV shows but also on her first day of house arrest grabbed some lemons from her greenhouse and told reporters she was looking forward to making hot lemonade. Here's how a few other big names this year made the best of a bad situation...

Author: /time Magazine | Title: When Life Gives You Lemons ... | 12/19/2005 | See Source »

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