Word: bookings
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Dates: during 2000-2009
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...right below where the cash they just handed over to the FDIC used to be. It will be called something like prepaid FDIC premiums. The asset will shrink each quarter by the amount each bank normally would have paid the FDIC. As the bank shrinks the asset, it will book the normal cost it would have paid the FDIC in fees that quarter, except as we all know, the fees will have already been paid...
...That's because the same accounting that allows banks to hide the costs will prevent the FDIC from marking up its own assets. Just as the banks get to add an asset to their balance sheet for the money they are prepaying, the FDIC has to book a liability for the money that it has received from the banks but is not actually entitled to yet. That liability will lower the balance of the FDIC's fund by the same amount that it is boosted by the prepayment. That means, at least on the books, the net effect...
Davidson ends his book with an ominous image: While Aeschines is prosecuting Timarchus in 346 BCE for practicing homosexual prostitution in his youth—a warning sign in Athens of tyranny—he portrays an “anti-Athens” of hollow zones and derelict buildings that “lurks still in the city’s crevices” amidst “unbridled appetites and animal passions”—waiting “like the abysmal Charybdis to swallow Athens down.” It’s still eerie...
...University of Warwick Classics Professor James N. Davidson explains in his book “Courtesans and Fishcakes: The Consuming Passions of Classical Athens,” Athenians viewed indulgence and tyranny as inextricably intertwined. Pleasure-seeking and power-seeking were often one and the same—if a man could not control his appetite for fish and sex, what would prevent him from taking over the acropolis...
Burleigh is writing a book on the Knox case, to be published by Broadway Books...