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...proxy statement sent to shareholders prior to the vote on the deal, Bank of America stated that Merrill had agreed not to pay bonuses to its top executives until after the acquisition was closed. Shortly after completing the acquisition, Lewis fired Merrill's top executive John Thain for, among other things, paying out $3.6 billion in bonuses to Merrill's top executives just days before the Bank of America acquisition was complete. (Read "Hooray for Boring Banks...

Author: /time Magazine | Title: SEC Settlement May Threaten BofA CEO | 8/4/2009 | See Source »

...works efficiently on deadline, the student will help introduce my project leader to a new version of T. I. A.—one that boasts, even among Africans, that something like This is Achievable...

Author: By Ahmed N. Mabruk, CRIMSON STAFF WRITER | Title: T.I.A. | 8/4/2009 | See Source »

...implosion of Wall Street is already having this salutary effect, prompting some bankers to start up new financial firms and others to go to work for smaller, no-name companies. Which should, among other things, help reduce the dangerous overconcentration of capital and risk that made the present crisis so dangerous and devastating. "If the risk-taking spreads out to these smaller institutions, it is no longer a systemic threat," according to Matthew Richardson, a finance professor at New York University. "And innovation is spreading out too. This is a good thing...

Author: /time Magazine | Title: The Coming New New Economy | 8/4/2009 | See Source »

Amid the turmoil following the controversial June 12 presidential election, Iran's ruling hard-liners have escalated their showdown with the opposition by putting more than 100 political dissidents on what many outside the regime have denounced as a show trial. Among those "confessing" so far has been a reporter for Newsweek, Maziar Bahari, a Canadian citizen of Iranian descent, who said the foreign media helped cause the chaos following the vote. However, the regime's intentions can be seen from the array of political figures on trial, including several Deputy Ministers, a deputy speaker of parliament and many current...

Author: /time Magazine | Title: Iran's Show Trials: The Hard-Liners Build Their Case | 8/3/2009 | See Source »

...part, Britain's House of Commons Foreign Affairs Select Committee says NATO's inability to even the burden-sharing among member countries undermines the central mission of the alliance and raises the "real possibility that without a more equitable distribution of responsibility and risk, NATO's ... reputation as a military alliance, capable of undertaking out-of-area operations, [will be] seriously damaged...

Author: /time Magazine | Title: Britain's Soul-Searching Over Its Role in Afghanistan | 8/3/2009 | See Source »

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