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...recognition for a lifetime achievement in financial economics research, Harvard Business School Professor Michael C. Jensen was presented the Morgan Stanley-American Finance Association Award for Excellence in Financial Economics last month...
...threat to parity is a cause for major problems. Early on in the START negotiations last summer, Kristensen says, the Russians balked at a provision that would allow the U.S. to inspect the production facilities of its new RS-24 ICBM because they would not be able to inspect American ICBM construction sites. Kristensen says that's because the U.S. isn't building any new missiles. "It may seem absurd, but both sides are very edgy about maintaining parity in all respects," he says. "That makes negotiations very difficult...
...Perhaps not, but security experts in Europe - sympathetic to the task their American peers face - say that it may be understandable. One of the reasons U.S. authorities may have missed clues or not properly examined them in the Abdulmutallab case is that they are forced to sort through a massive tide of intelligence on a daily basis, two experts tell TIME. They note that the warnings about Abdulmutallab came from varying sources - including CIA intercepts in Yemen and the U.S. embassy in Nigeria - and were sent to different U.S. security organizations. Connecting the dots becomes more difficult when multiple streams...
...About the time we're overcome with envy and awe at the reach and depth of American intelligence-gathering capacity, we start to feel really lucky at not having to process the impossible mass of information it generates," says a French counterterrorism official. "In this case, too much intelligence didn't corrupt the intelligence, but the abundance of information did make it harder to put it all together correctly...
...Given al-Qaeda's love of head fakes, the official wonders what percentage of the 550,000 names on the U.S. terrorism watch list might be decoys intended to jam American databases and allow more furtive or budding extremists to get lost in the mass of information. But even if there is a high number of errant names on such lists, he acknowledges, they are a necessary evil - for now. Although the U.S. intelligence systems are imperfect and occasionally get swamped, casting as wide a net as possible is still the best hope for identifying the largest number of would...