Word: backe
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...December, Citi and the feds struck a deal to get the bank out from under the government's most stringent pay rules. Citi paid back $20 billion of the money the government lent the bank, and the Treasury Department agreed to declassify Citi as one of the firms deemed to be receiving "exceptional financial assistance." (See the best business deals...
...idea that Citigroup has paid back its [Troubled Asset Relief Program] money is a charade orchestrated by the government to allow an insolvent bank to pay big bonuses," says Christopher Whalen, who follows Citi and other banks at Institutional Risk Analytics. "It's a scandal...
...easy. Consider this scene: at a dusty army camp in Dera Ismael Khan a few weeks back, Pakistan's army commander Ashfaq Parvez Kayani summoned elders, or maliks, from the Mehsud tribe who had been hiding in Karachi, Peshawar and Islamabad from Taliban assassins. Eyewitnesses recount that the elders were so scared of being spied on by the Taliban that they rolled up to the army chief's office with the car windows plastered over with newspapers so their faces couldn't be seen...
...with good reason. General Khan reckons that the Pakistani Taliban have killed over 500 tribal elders since 9/11 for supposedly collaborating with Islamabad and Washington. Even after assurances from the army chief, the Mehsud elders are still afraid to venture back to their lands. "The jihad has eliminated the old tribal system of maliks," says General Khan. "Now any crook with a cell phone can call up a gang of his militant friends for any kind of mischief, and everyone is too afraid to stop them." His former colleague, Brigadier Mahmoud Shah, formerly in charge of security for the Northwest...
...best solution, says Samina Ahmed, Pakistan director for the International Crisis Group, a global policy-research center, is to ring in political and social reforms that will rid this territory of its antique system from British colonial rule and draw it into mainstream Pakistani life. For now, bringing back the music in the bazaars may not be enough, but it's a start...