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...Since dropping the Satyam account after the fraud came to light, PwC has been going all out to repair its reputation. Before his recent retirement, Samuel DiPiazza Jr., PwC International's former CEO, made frequent trips to India to meet clients and government ministers. Indian politicians have said that the government will take action against PwC if it is found liable, which could mean penalties or even ejection from India...

Author: /time Magazine | Title: Satyam Computer Fraud Grows to $2.5 Billion | 11/27/2009 | See Source »

...Alberto Caputo, a Milan psychiatrist and sex therapist, says that a third of the several thousand visits each month to prostitutes in the northern city are with the transgendered. "This is what we call 'sensation seeking,'" says Caputo, who treats patients of all sexual orientations and identities. "Men who frequent the transgendered are after ambiguity, which can create strong [sexual] excitement." Caputo says the common notion that relations with the transgendered are a form of latent homosexuality misses the mark. Instead, he calls the attraction "homogenital," whereby someone seeks all the characteristics of the opposite sex, save the genitals, which...

Author: /time Magazine | Title: In Italy, A Sex Scandal to Rival Berlusconi's | 11/26/2009 | See Source »

...mobile numbers into the record; a security officer from the Taj testified that he found a pistol, a magazine and an empty magazine in the debris of the hotel's Wasabi restaurant. The judge asked how to spell "wasabi" and what it means in Japanese, one of his frequent, meandering asides which he plays for laughs from the small audience of police officers and reporters in the courtroom. The atmosphere is markedly informal. The prosecutor goes over a witness' testimony as he delivers it; the defense and prosecution attorneys lean over to chat with each other during the proceedings. Qasab...

Author: /time Magazine | Title: One Year After the Massacre, a Trial Plods On | 11/26/2009 | See Source »

...economic narcissism was certainly the culprit in the devastation wrought by financial markets, which have subjected us to an increasingly frequent series of crashes, frauds and recessions. To a great degree, this was brought about by a lethal combination of irresponsible deregulation and accommodating monetary policies instituted by the Federal Reserve. Bankers and financial engineers had an unsupervised free-market free-for-all just as the increased complexity of financial products - e.g., derivatives - screamed out for greater regulation or at least supervision. Enron, for instance, was a bastard child of a deregulated utilities industry and a mind-bending financial alchemy...

Author: /time Magazine | Title: The '00s: Goodbye (at Last) to the Decade from Hell | 11/24/2009 | See Source »

...precise victim of his vitriol, though, remained exasperatingly ambiguous. The Vatican has engaged in fairly frequent shake-ups with thriller writer Dan Brown, including last year’s totally straight-faced denunciation of “The Da Vinci Code” as an “offense against God.” (The spats tend to come off as amusing largely because the church takes him far more seriously than the rest of the world does.) Yet it’s hard to imagine Brown—or previous bête noire J.K. Rowling—creating...

Author: By Jessica A. Sequeira | Title: The Art of the Matter | 11/23/2009 | See Source »

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