Word: blow
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...this, however, will not be enough to blow out the deal, because the consequences of a collapse in the so-called shadow banking system would be much worse. Over the last 20 years Wall Street built what amounted to a parallel finance system that was specifically designed to avoid the banking safeguards implemented after the crash of 1929, which limited how much an institution could be leveraged in exchange for stability. The shadow system grew nearly to the size of the real banking system, and its demise now threatens both. "As much as I don't want to be here...
...recent financial woes, that figure is sure to grow. Chances are, someone you know will meet this unpleasant fate in coming months; while outright avoidance may work when it?s junior?s Little League coach, handling a relationship with a friend or coworker who?s recently suffered such a blow needs a delicate touch. To help, TIME?s Kathleen Kingsbury sought the advice of Anne Baber, co-author of How to Fireproof Your Career, based on interviews with several hundred laid-off employees. Below, an edited version of Baber?s ins and outs of lay-off etiquette...
...short-term consequences of that are serious: up to 18,000 employees could suddenly be looking for a job, while key domestic routes vital to the Italian economy would go underserved. In broader terms, Alitalia's demise would be yet another blow to the country's image abroad and to confidence at home. Berlusconi, who has maintained a hard line since negotiations imploded, has banked much of his credibility on resolving the crisis and keeping Alitalia under Italian ownership...
Robert Baer, a former CIA field officer assigned to the Middle East, is TIME.com's intelligence columnist and the author of See No Evil and, most recently, the novel Blow the House Down...
...Menezes, 27, seven times in the head at close range after he boarded a London subway train on the morning of July 22, 2005. De Menezes, a Brazilian electrician, lived in an apartment block adjacent to a would-be terrorist who, the day before, had botched an effort to blow himself up on the London Tube. On July 22, as police continued their surveillance of the suspect's housing block, de Menezes left his apartment for work and unknowingly stepped into the middle of the manhunt. Thirty-four minutes later he was dead...