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...stock as an essential part of many fraudulent deals. B.C.C.I., said Price Waterhouse, covertly acquired the stock of First American, code-named WXYZ in the report, through "prominent Middle Eastern individuals" who thus were merely nominal -- or "nominee" -- owners. B.C.C.I. then used First American shares as collateral for sham loans that produced phony income. Clifford, meanwhile, regularly briefed Abedi and Kamal Adham, a major B.C.C.I. shareholder from Saudi Arabia, on First American's operations. Clifford said the meetings were needed to keep B.C.C.I., as adviser to the Arab owners of First American, informed about the U.S. firm...

Author: /time Magazine | Title: Corruption: Feeling the Heat | 8/5/1991 | See Source »

Arms control was always something between a sham and a sideshow. The end of the cold war has proved it. The U.S.S.R. today has thousands more nuclear warheads than it did 10 years ago. Yet we feel far more secure today. Why? Because security never depended on numbers. It depended on intentions. Soviet intentions have changed, and the change had nothing at all to do with arms control...

Author: /time Magazine | Title: Why Arms Control Is Obsolete | 8/5/1991 | See Source »

High art, we are taught, resides in the lower depths. Misery breeds profundity, the argument goes, and it has a corollary: anything cheery is a gilded lie. Drizzle is real, sunlight a sham. To focus on the sunny side, and to find resonance there, is to engage in a kind of aesthetic Reaganism. Every smile is a commercial for a product destined to be recalled: Life Lite...

Author: /time Magazine | Title: Reliving Impossible Dreams | 7/1/1991 | See Source »

This gene was then injected into a mouse egg. After the altered gene was taken up by the nucleus of the egg, the egg was placed in the uterus of a 'sham' female mouse, one which had been mated top a sterile male...

Author: By Ivan Oransky, | Title: Genetically Altered Mice Offer Clues to Cancer | 5/6/1991 | See Source »

...perhaps, but not forgotten. By day's end, I later learned, a copy of my personal credit report -- with detailed information about my bank accounts, home mortgage, credit-card payments, home address and Social Security number -- had been illegally retrieved from a national credit bureau called Trans Union. The sham company that received it, "Educational Funding Services" of Los Angeles, gave as its address a mail drop a few blocks from Scientology's headquarters...

Author: /time Magazine | Title: The Scientologists and Me | 5/6/1991 | See Source »

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