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...Santander agreed to buy the savings deposits and branch network of the hopelessly overextended British lender Bradford & Bingley (B&B), forced into nationalization yesterday after investors and lenders lost confidence. B&B - whose share price has plummeted 93% this year - relied on the gummed-up wholesale credit markets for around half of its mortgage funding. Many of those home loans it has made, often without proof of the borrower's income, now look risky. For $1.1 billion, Santander will take on $37 billion in savers' deposits; the U.K. government, meanwhile, took on B&B's $78 billion mortgage book...

Author: /time Magazine | Title: Lessons from Europe's Big Bailout | 9/29/2008 | See Source »

Kent calls these works tribunal plays, and in them he has probed German and Bosnian-Serb war crimes, the sale of arms to Iraq, the suicide of British weapons expert David Kelly and the massacre of Irish civil rights marchers by British soldiers on Bloody Sunday. The plays are riveting in their attention to detail and at times heartbreaking, as when a visibly haunted former soldier in Srebrenica recounts his forced participation in the slaughter of Muslims. "We've become the BBC of the theater," Kent says. "We've become a trusted voice...

Author: /time Magazine | Title: The Next Chapter | 9/26/2008 | See Source »

...Kent commissioned journalist Victoria Brittain and novelist Gillian Slovo to create a verbatim play about British detainees at Guantánamo Bay based on interviews with released detainees, families of detainees and their lawyers. Guantánamo: 'Honor Bound to Defend Freedom' opened to wide acclaim, transferred to the West End and was also produced in New York City. Last spring a reading was staged for members of the U.S. Congress on Capitol Hill. "What Nick is about is, 'What can we be doing next?'" says Tricycle general manager Mary Lauder. "'What should we be tackling? What can we change...

Author: /time Magazine | Title: The Next Chapter | 9/26/2008 | See Source »

...problem of Guantánamo is Sami Al-Hajj, an al-Jazeera TV cameraman recently freed, without facing charges, after six and a half years at Guantánamo. "It's worse than the fire of Hell," he wrote two years ago from his cell to his British attorney, Clive Stafford Smith. "It makes people lose their senses. Death may come at any time...

Author: /time Magazine | Title: Six Years Inside Gitmo: A Journalist's Tale | 9/25/2008 | See Source »

...point Al-Hajj compiled a list of 64 detainees younger than 18, challenging U.S. claims that no juveniles were in Guantánamo. "Sami was remarkable; the guards liked him and would tell him all sorts of stuff," says Stafford-Smith, legal director of the British prisoner-rights organization Reprieve, and who still represents about 35 detainees in Guantánamo...

Author: /time Magazine | Title: Six Years Inside Gitmo: A Journalist's Tale | 9/25/2008 | See Source »

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