Word: banking
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...didn't say anything about our trades, did you? Otherwise you're dead meat.' Jerome Kerviel, rogue Société Générale trader, talking with a broker in an Oct. 11 online chat about risky trades that are believed to have cost the bank $7.2 billion...
...come here that day to see how construction was progressing. Our house, along with about 140 others, was going up in a development called Emerald Riverside. It sits on the banks of a tributary that dumps into the Huangpu, the river that cuts Shanghai in two about 28 miles (45 km) to the northeast. On that dreary afternoon I gazed out to the other side of the river, looking at the only significant patch of land for miles that was not yet being developed - about five acres (20,000 sq m) of green that local farmers still used to grow...
...Where did he come from and, more to the point, what in the world is he doing out here? The short answer is that my wife and I have become a tiny part of China's latest revolution. We got an off-the-shelf mortgage from the Standard Chartered Bank branch in town, plunked down 25% of the purchase price, and bought ourselves a piece of the Great Chinese Dream...
...junta and its business allies do not save their money in Burma's shambles of a banking system; they stash their hard currency in offshore centers. Tough but quiet financial sanctions, focusing on freezing assets of a list of junta leaders and their allies, could cut off the generals' income with little cost to average Burmese. These measures have worked against tyrants before; they disabled Serbian tyrant Slobodan Milosevic's finances and put pressure on North Korean strongman Kim Jong Il - after Washington publicly identified a bank in the Chinese territory of Macau as a major conduit for North Korean...
...work, but Allen argues that a big paycheck doesn't equate with a platform. "You could have made money picking up roadkill," he says. "Now you have this big company where you've got people all over the world picking up roadkill. You've got $70 million in the bank. That doesn't make you knowledgeable about world hunger." Allen's inquisitive mind often wanders off to unexpected, some would say bizarre, areas...