I'm not sure I buy the controversy -- via BloggingStocks and Clusterstock -- over Tim Geithner being named one of People Magazine's Most Beautiful People. The case against Geithner seems to be (1) His brother is an executive at People Magazine, so there's a potential conflict of interest, and (2) Geithner is not beautiful.
But most American magazines have a strict business/editorial divide, and it would be somewhat surprising if the business side of the publication were making a hamfisted attempt to meddle with editorial decisionmaking over something like this. (Important though it no doubt seems.) And while I'm not really in a position judge the merits of point #2, it does seem to me that previous Most Beautiful People have been given the honor based on something other than beauty narrowly construed.