Word: blame
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...deal. But critics say that the original intent of incorporation has been corrupted in the last 20 years as the conveniences offered by offshore tax havens - demand turbocharged by a boom in financial engineering - has degenerated into a race to the bottom to sell secrecy. (See 25 people to blame for the financial crisis...
...investing clients were. Those investments comprised the greatest part of those firms' write-offs. Those weren't client-driven trades. They decided to take them themselves. The idea that proprietary trades were a trivial part of the losses at the banks is just not realistic. (See 25 people to blame for the financial crisis...
...their way through the global recession, with the average pegged at 7.5% this year. Three years ago, the E.U.'s deficit average was just 0.8% of the bloc's total GDP. That figure increased to 2.3% in 2008 and then spiked to 6.9% last year. (See 25 people to blame for the financial crisis...
...French, however, do not quite feel humiliated. Wronged, perhaps, but not humiliated. In a trial that opens outside Paris on Tuesday, French officials will try to pin the blame for the Concorde's demise on Continental Airlines. It was not, they insist, the Concorde's design that led to its demise; indeed the plane still has cherished status among many in France as a feat of engineering and aesthetics, hence the monument at Charles de Gaulle. (See four decades of the Concorde's supersonic magic...
...France lawyer Fernand Garnault told TIME last week he is convinced Continental is solely to blame for the crash. "It is clear that a piece from a Continental plane fell on the runway. It is clear that the origin of the accident was this," says Garnault, one of France's leading aviation lawyers. "This is my personal conviction and of course that of Air France...