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...more insidious risk of adding heaps of debt--as happened with Long-Term Capital. "You worry about one manager blowing up and having it ripple through the industry," says Mark Anson, chief investment officer at the California Public Employees' Retirement System. A serious ripple could lead to a rapid decline in stocks and bonds as large financial institutions try to unwind their complicated strategies at once...

Author: /time Magazine | Title: WILL HEDGE FUNDS TAKE A DIVE? | 10/4/2004 | See Source »

...bayonets - but it was that experience, aides say, that convinced him that his party's political survival depended on European guarantees of freedom of expression. As a conservative Muslim, he was well placed to bring traditionalists with him, notes a Turkish diplomat: "It was Nixon who went to China." Rapid reform, however, has done little to impress the opponents of Turkish accession, who focus on emotionally powerful issues like Europe's historically Chris-tian identity. In the latest French poll, 56% of respondents say they oppose Turkish accession "in principle." But in the same poll, 63% said that they could...

Author: /time Magazine | Title: At The Gates Of The Union | 10/3/2004 | See Source »

...been a phone bill or the odd credit card statement which, in a pinch, could have been used to place you at a certain location if you happened to buy something there. But the quantity of that information and the complexity of its character has grown exponentially with the rapid adoption of technology into our society. Now it’s literally impossible to fathom the depth of personal detail available just waiting to be freed from some corporate hard drive by the master keys of the judicial branch...

Author: By Matthew A. Gline, | Title: 1984, 20 Years Later | 9/27/2004 | See Source »

KERRY I know exactly what I'm going to do, but I'm not the President today. I've already laid out the international conference, the shared responsibilities between European and Arab countries, the more rapid training of Iraqi police and military. I think it's almost pathetic the rate at which we have done that. They [the Bush Administration] are hardly behaving like we're truly a country at war. It's pathetic that they left ammunition dumps and nuclear facilities unprotected. They disbanded the Iraqi military. They didn't protect the borders. It's one of the most...

Author: /time Magazine | Title: Campaign '04: I've Been in Worse Situations | 9/20/2004 | See Source »

...drier regions further south, proposing a more modest desalinization program instead. He increased the minimum wage, pledged to do the same for pensions, and launched an unprecedented war against the dark side of Spanish machismo, stiffening laws against domestic violence and proposing the legalization of gay marriage and rapid, no-fault divorces. A radical democrat committed to feminism is a major departure for Spanish politics, where the most successful politicians - among them Aznar and his Socialist predecessor, Felipe González - were macho men with killer political instincts. Zapatero's bet is that he can govern effectively and retain power...

Author: /time Magazine | Title: The Zen Of Zapatero | 9/19/2004 | See Source »

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