Sam Cummings is a large, loquacious, twinkly man who is never very far from a joke or an ironic aside. "Human folly," he says, "guarantees the perpetuity of arms trading, the second-oldest profession in the world." Cummings, 54, is intimate with this deadly folly: he is by far the largest private arms seller in the world. Interarms Corp., which he founded 28 years ago and wholly owns today, has 250 employees in Britain, Panama, Monaco, Argentina and the U.S. Sales in a good year can top $ 100 million. On the world arms market, that sum is a trifle, as...
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