Word: accounts
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Dates: during 2000-2009
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...exception is Citigroup. Since the bank struck a deal with the government to shield $301 billion in losses, we had to account for some investment missteps to value the arrangement. Bank of America has a similar deal, but since the details aren't public, we didn't factor it in. (See pictures of the top 10 scared traders...
Grann's journey, shadowing Fawcett's, is actually the least interesting part of the book. (For a livelier account of an innocent's adventures in the jungle, look up Redmond O'Hanlon's classic Into the Heart of Borneo.) You never quite get a fix on what Fawcett means to Grann, and you find yourself wishing, uncharitably, that he would narrowly escape death a little more often. What keeps you going is the backstory. The theory that the Amazon basin conceals the capital of an advanced civilization has a long history--it's one of those ideas that's just...
...professors at the University of Chicago set out to discover who was behind the spectacular rise in the very top incomes in the U.S. Steven Kaplan and Joshua Rauh quickly concluded that for all the outrage about the pay of corporate chief executives and their lieutenants, it didn't account for more than a sliver of the gains. And highly paid athletes and entertainers were too small in number to have much impact...
...seems especially cruel to push foreclosures because no one wants people to lose their homes. But, at some point, the system must take into account the fact that many of these people cannot afford their houses. The irony of allowing current owners to stay where they are is that they will never really "own" a home. They will remain in houses where they are very unlikely to be able to pay off the principle. These residences will not be released into a market where prices continue to drop very rapidly because there are no government programs to keep the housing...
...haven't plaintiffs attached Iraq's oil revenues in international courts? That account is kept safe by special U.N. protections at the moment, and its currency reserves in Baghdad cannot be touched. But any move by Iraq on international capital markets involves a gamble unlikely to turn out well unless Iraq takes steps to settle the outstanding claims, an issue U.S. officials in Baghdad are stressing when talking to Iraqi policymakers in trying to shore up the nation's finances for 2010 and beyond...