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...disastrous expansion that almost felled one of Europe's largest banks, prompted a $30 billion government bailout last fall and triggered the biggest annual loss in U.K. corporate history. "We are angry," a group claiming responsibility for the attack wrote in an e-mail to an Edinburgh newspaper, "that rich people, like him, are paying themselves a huge amount of money and living in luxury, while ordinary people are made unemployed, destitute and homeless. Bank bosses should be jailed. This is just the beginning." (See pictures of the financial crisis in London...

Author: /time Magazine | Title: Hang the Bankers! Getting Ready to Vent in London | 3/28/2009 | See Source »

...leeches to plastic surgeons, who put them on wounds to reduce the chance of scarring, to dentists, who apply them on gums to reduce swelling, and even to gynecologists, who use them to treat sexually transmitted diseases (Yes. You imagine right.). The oral cavity of the leech is rich with an anticoagulant, which allows the animal to feed continuously on blood but which also delivers the anti-clotting substance more effectively to the area of a wound than would a small injection puncture. Indeed, leeches are used very much like syringes. After a leech is used on a patient...

Author: /time Magazine | Title: Leeches: Fresh Blood for Russia's Economy | 3/28/2009 | See Source »

...integration being advocated by Sarkozy is not exactly selfless, however; it's entirely compatible with advancing France's economic interests and its waning political influence across the continent. The DRC, which is the size of Western Europe and is the world's largest French-speaking nation, is also fantastically rich in resources, and could logically be expected to partner with France when restored stability allows economic and industrial development to begin in earnest. Exchanges between the two countries now stand at a modest $250 million per year; but that might be boosted as a result of a trip on which...

Author: /time Magazine | Title: Behind President Sarkozy's Africa Trip | 3/27/2009 | See Source »

...main culprits are not hard to divine. As households in the rich world, battered by a collapse in the values of their assets, start saving again, their appetite for new cars and consumer electronics has diminished. And as banks try to rebuild their shattered balance sheets, capital that would once have been used to finance trade is staying in their vaults...

Author: /time Magazine | Title: Global Trade: The Road to Ruin | 3/26/2009 | See Source »

...Brown says, the key issues that the world faces today cannot be dealt with by rich nations acting alone. That is as true of the regulation of global financial markets as it is of the relief of poverty. Climate change cannot be tackled by any one nation, or any group of nations, however rich and powerful they may be; any solution that does not include within its policy parameters India and China is worthless. (Read TIME's special report on The G-20, including an interview with Gordon Brown...

Author: /time Magazine | Title: Global Trade: The Road to Ruin | 3/26/2009 | See Source »

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