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...financial sector began to teeter in September, South Korea's government believed that it was in a far stronger position than a decade ago. Its financial institutions seemed sturdy, with a mere $70 million of those toxic mortgage-backed securities that doomed banks in the U.S., while the central bank was well stocked with $240 billion of hard-currency reserves - more than sufficient, economists believed, to protect the economy from any external shocks. "We didn't need a special spotlight," says Yi Jong Goo, standing commissioner at the Financial Services Commission (FSC), the government agency that oversees the country...

Author: /time Magazine | Title: A Depressed Mood | 11/13/2008 | See Source »

Need to start a war? No problem. While stock markets gyrate and financial institutions (and even whole countries, like Iceland) teeter on bankruptcy, one global industry is still drawing plenty of high-end trades and profits: weapons...

Author: /time Magazine | Title: The Arms Trade Booms Amid Global Economic Woes | 10/14/2008 | See Source »

...getting into," she recalled. "We discovered, as did the Kuwaitis, that the Iraqis had planted land mines in the playgrounds. So we hadn't been there 12 hours, and the first case we get is a young child who had gone outside to play on the teeter-totter and stepped on a land mine. That was my first experience with land mines...

Author: /time Magazine | Title: Cindy McCain's Mission to Georgia | 8/25/2008 | See Source »

Serbs in the northern Kosovar town of Mitrovica are not sticklers for appearances. The stained cement façades are peeling away from drab 1960s-era high-rises. Dented satellite dishes teeter on balconies. Kiosks peddling photos of local heroes like Ratko Mladic, the fugitive Bosnian Serb general indicted for war crimes, crowd out pedestrians along potholed sidewalks. But all over town there are flashes of brilliant color: red, blue and white Serbian flags fly from nearly every window, door and rusted railing...

Author: /time Magazine | Title: Kosovo's Curse | 5/8/2008 | See Source »

Neil Diamond Home Before Dark; out now Forty years in, and his songs still teeter on grievance and end in self-pity. At least they're not so corny. Producer Rick Rubin adds discipline where Diamond needs it, keeping the arrangements simple and the choruses from getting too show-bizzy. What's left is miraculously both quietly compelling and recognizably Neil Diamond...

Author: /time Magazine | Title: 5 Things You Should Know About. | 5/8/2008 | See Source »

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