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...Sgarbi's undoing was Germany's wealthiest woman, industrialist and philanthropist Susanne Klatten. Having already received $8.84 million from Klatten, who owns 12.5% of German carmaker BMW and a majority of chemical firm Altana, and is a married mother of three, Sgarbi tried to blackmail her with a secretly filmed video showing the couple in bed. But instead of sending him the negotiated $17.7 million (down from the $366 million police say he asked for), Klatten sent the police. (See pictures...

Author: /time Magazine | Title: The Swiss Gigolo and the German Billionaire | 3/9/2009 | See Source »

...Michael A. Gould-Wartofsky '07, Kelly L. Lee '07, J. Claire Provost '07, and former campus activist Kyle Krahel '08—said in the e-mail that they would continue to rally alongside the Cambridge protesters seeking to put an end to layoffs at what they called "the wealthiest university in the world...

Author: By Lauren D. Kiel | Title: NYC Alums Join Locals in Protest | 3/8/2009 | See Source »

...attack comes at a sensitive time for Pakistan, and Punjab in particular. The country's largest and wealthiest province was plunged into turmoil last week after its most popular politician, opposition leader and former Prime Minister Nawaz Sharif, was barred from holding elected office by the Supreme Court in a controversial ruling. The decision sparked angry protests across the province and opened up a major rift with the government. Sharif has held political rallies across Punjab, urging supporters to join this month's lawyer-led "long march" to Islamabad to demand the reinstatement of deposed Chief Justice Iftikhar Chaudhry. Over...

Author: /time Magazine | Title: Attack on Sri Lankan Cricket Team: Echoes of Mumbai? | 3/3/2009 | See Source »

...released on Thursday. "I want to pass a budget next year that ensures that each dollar we spend reflects only our most important national priorities," Obama said on Tuesday night. The anticipated austerity of that budget, which will likely allow President George W. Bush's tax cuts for the wealthiest Americans to lapse and include a road map for health-care reform, will look all the more severe when compared with the bloated 2009 numbers. And while the Obama Administration is turning a blind eye to the 2009 earmarks, White House officials say they fully expect Congress to live...

Author: /time Magazine | Title: Does Obama Have a Double Standard on Earmarks? | 2/26/2009 | See Source »

...part of the $3.5 trillion budget he proposed on Thursday, President Barack Obama is pushing for a down payment on universal health care, a reserve fund of $634 billion over 10 years paid for by higher taxes on the wealthiest Americans and savings from government programs like Medicare and Medicaid. By putting the funding on the table before the program has even been crafted, though, Obama is essentially putting the cart before the horse. Many health-care analysts hope to see more details of the President's plan during a White House health-care summit expected...

Author: /time Magazine | Title: Obama Moves Health Care to the Front Burner | 2/26/2009 | See Source »

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