Word: bankes
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...calling "pseudo commandos" - criminals who prepare for a showdown with law enforcement by strapping on bullet-resistant vests before battle. (Technically, body armor isn't considered bulletproof; depending on the vest, high-powered weapons can still cause life-threatening injuries). In one of the most famous cases, in 1997, bank robbers Larry Phillips Jr. and Emil Matasareanu faced off against police outside a Bank of America branch in North Hollywood covered in body armor and toting high-powered weapons. After injuring 11 officers and six civilians, both men were killed: Matasareanu by shots outside the coverage of his armor...
...hallmark of capitalism, before the government got involved in what car company and bank executives were to be paid, was that employees could make as much as management felt they were due based on their contributions to the firms where they worked. The best salesman at a company could earn more than the CEO. The best investment banker at a brokerage firm could earn more than the head of investment banking. Just because a CEO held the highest title at a company did not mean that he had to be paid more than everyone who worked for him. Annual compensation...
...what would take the greenback's place? Economists say that China's suggestion of turning to SDRs might be viable, since SDRs are already considered a core part of central-bank reserves. But global traders would have to begin denominating transactions in SDRs instead of dollars, and there is no sign of that happening anytime soon. Portes of the London Business School says using SDRs as the top international currency is "not impossible," but he adds that "the fundamental problem is that the issuer of the [international] currency also has to be the lender of last resort. The IMF does...
...budget, stimulus package, and bank bailout assumptions for employment and revenue are no longer right, the government's pot for solving the nation's economic problems is already light. The Administration's forecast is that unemployment will average 8.1% this year and 7.9% next year. The CBO estimates are a bit higher. Based on where unemployment stands now and where it will likely be at mid-year, none of those numbers is even remotely realistic. (See pictures of the Top 10 scared traders...
...Holyoke and Mount Auburn Streets. The scare was precipitated by a call to Cambridge police made by a pedestrian early Saturday morning, according to Nick Nicholas, an employee of the Crimson Corner newsstand. The pedestrian heard a ticking noise coming from the two mailboxes outside of the Harvard Square Bank of America, Nicholas said, and the source of the ticking was later discovered to be a “clicker” placed in one of the mailboxes. A “clicker” is an electronic device often used in restaurants to alert patrons when their table...