Word: alongism
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Dates: during 2000-2009
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...dealmakers comes as a surprise because the sprawling bank has generated nothing but frightening headlines in recent months. Like the other big banks, Citi received billions in aid from the government, and has been back to the government's well more often than most. Last month, the Treasury, along with private investors, agreed to convert some of their Citigroup preferred shares into common stock, which will strengthen the company's capital position. All told, the government has injected $45 billion into Citi by buying preferred shares; it has also insured the bank against losses on as much as $300 billion...
...state of shock. In a matter of months, half the value of the stock market and more than half of Wall Street's corporate pillars have disappeared, along with several million jobs. Venerable corporate enterprises are teetering. But as we gasp in terror at our half glass of water, we really can - must - come to see it as half full as well as half empty. Now that we're accustomed to the unthinkable suddenly becoming not just thinkable but actual, we ought to be able to think the unthinkable on the upside, as America plots its reconstruction and reinvention...
Caro was intrigued enough by the topic to want to see for himself. He watched the force feeding regimen on farms from California to upstate New York to France, interviewed the dedicated (and often aggressive) animal activists who are trying to shut down the industry and, along the way, confronted his own food demons. Caro, author of a new book about the debate, The Foie Gras Wars, talked to TIME about why Donald Duck is a force to be reckoned with, the true goals of the animal rights camp and why he won't be craving foie gras any time...
...Shanghai not long ago, I took a walk from my hotel along Nanjing Road to the Bund, the promenade on the banks of the Huangpu where visitors from China's hinterland gather to gaze across the river, awestruck, at the ultramodern skyscrapers of Pudong that have transformed the city's skyline in not much more than a decade. It wasn't what was on the far side, though, that got my attention: it was the traffic on the river itself, great container ships, chuffing lighters, bulk carriers, every sort of waterborne vessel you could imagine carrying every imaginable cargo, churning...
...what one is used to in the West. In the U.S. and Europe, we have prettified our rivers, turning city waterfronts into places where genteel folk ride their bikes or snack in the open air. But in Asia - not just in Shanghai, but along the Chao Phraya in Bangkok, or in Hong Kong's harbor - waterways are not pretty at all. They are busy places of work and commerce, the arteries of trade, that age-old process of exchange that, more than anything else, has lifted millions of Asians out of poverty in two generations. (See pictures of China...