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...this profiteering spirit as “greed,” but, prior to the recent economic meltdown, such greed was never an issue for the public. Bernard Madoff’s investors did not care if their money fueled a Ponzi scheme as long as they received their regular returns. Shareholders of Merrill Lynch were unbothered as the company’s managers liberally applied corporate funds to beautify their offices, as long as they were paid their quarterly dividends...

Author: By Shankar Ramaswamy | Title: Greed Is Good | 2/8/2009 | See Source »

...that security officials have linked to the FARC. Meanwhile, the rebels continue to traffic cocaine, a lucrative business that provides the guerrillas some 70% of their income. In addition, the guerrillas still hold 23 police and army NCOs as bargaining chips for a prisoner swap, and are still kidnapping regular civilians for ransom. "The fact that they released a few prisoners is welcome," says Jose Miguel Vivanco of Human Rights Watch in Washington, D.C. "But I don't see any fundamental change in the FARC. I'm very skeptical about all this...

Author: /time Magazine | Title: Colombia: A Make-Over for Stumbling Rebels | 2/8/2009 | See Source »

...Iraqi government denied the accusation, saying its movements in the area were routine. Then on Sunday Shi'ite worshippers beginning annual pilgrimages on foot from Baghdad toward Karbala came under attack. A roadside bomb killed two and wounded 11 in the latest sign that sectarian bloodshed is still a regular occurrence...

Author: /time Magazine | Title: A Quiet Election Masks the Iraqi Option for Violence | 2/8/2009 | See Source »

...than 10% of funds into the economy within 18 months - for example, shrinking Head Start and a program to make federal buildings more energy efficient. "The Democrats wanted to see a lot of education funding and the Republicans generally argued that the programs, while worthwhile, should go through the regular appropriations process," Collins said. "Or in the case of the $19 billion for school construction there's a real case on whether that's a federal role or a local and state role." Tax cuts and other finance provisions allowed the negotiators to slash another $25 billion...

Author: /time Magazine | Title: Barely Bipartisan, a Stimulus Deal Is Done | 2/7/2009 | See Source »

...statement handed to him. Khan also claimed that the army had colluded in at least one nuclear transaction - a charge Musharraf angrily denied. The Islamabad High Court swiftly muzzled him in July 2008, denying any future access to the media. But over recent months, he began writing a regular newspaper column, "Random Thoughts," a platform he has used to rail against Musharraf's campaign against militancy and to fondly recall decades past, when he had the ear of Pakistan's leaders. Despite what she believes are restrictions on his ability to speak out, his wife says Khan will continue...

Author: /time Magazine | Title: Freedom for Pakistan's Nuclear Proliferator | 2/6/2009 | See Source »

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