Caught in the Web, 1860. Federal agents arrested hedge-fund manager Bernard Madoff and charged him with running a $50 billion Ponzi scheme, possibly the largest in Wall Street history. Madoff…
After more than a week of fighting and one failed cease-fire, Russia and Georgia signed a revised cease-fire agreement, but Russian troops remained within 25 miles of the Georgian capital,…
The U.S. Office of Thrift Supervision seized the IndyMac Bank of California, worth an estimated 32 billion dollars, after the bank’s closure in the wake of mortgage industry collapse,AFPand the…
The Cloaca Maxima, 1872 Iranian President Mahmoud Ahmadinejad, hailed by his countrymen as the “Socrates of the Third Millennium” for “disarming other speakers through his sharp reasoning,” gave a speech…
Caught in the Web, 1860. General David Petraeus and Ambassador Ryan C. Crocker testified to Congress about progress in the war in Iraq; Crocker summarized 2006 as “a bad year,”…
The Cloaca Maxima, 1872 Iraqis took to the streets after the national soccer team beat Saudi Arabia 1?0 in the Asian Cup championship. At least four people were killed by…
Paul Wolfowitz announced that he would resign as president of the World Bank on June 30; the Bank in turn said that it accepted Wolfowitz’s assurances that he had acted…
The Cloaca Maxima, 1872 The U.S. House of Representatives passed a timetable for ending the Iraq war by a six-vote margin. The bill mandates American withdrawal in September 2008 if…
Caught in the Web, 1860. President George W. Bush gave the State of the Union address, in which he discussed plans to balance the budget, double the size of the…
The Iraqi parliament voted unanimously to extend the country’s state of emergency, and President George W. Bush, who declared himself a “realist,” disavowed a leaked White House memo that suggested…
George W. Bush in Vietnam (White House photo). In Hillah, Iraq, a man promising work lured day-laborers into a minivan, then blew it up, killing 22 people. “The ground was…