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Hidden by the big bottom-line losses are a number of Citi businesses that seem to be doing well. Along with mergers and acquisitions, analysts point to Citi's foreign-currency trading divisions and its business of processing payments and moving money around the world as two other bright spots. Earlier this month, Citi CEO Vikram Pandit said his bank was profitable in the first two months of the year. "M&A alone is not a big enough businesses to swing the bank," says analyst Richard Bove, who follows bank stocks at Rochdale Securities. "But put them all together, along...
...overdependence on debt and fossil fuels, during the same quarter-century we've all become familiar with a way of thinking about self-destructive excess and dependence. The vocabulary of addiction recovery could come in handy just now. We are like substance abusers coming off a long bender, hitting bottom (we can only hope) and taking the messes we've made as a sobering wake-up call. I've always thought many of the 12 Steps were superfluous, so here is a streamlined, secularized Three-Step Program for America - Bubbleholics Anonymous? - to start getting back on track...
...everything really has changed. More than a year into the Great Recession, we still aren't sure if there's a bottom in sight, and six months after the financial system began imploding, it's still iffy. The party is finally, definitely over. And the present decade, which we've never even agreed what to call - the 2000s? the aughts? - has acquired its permanent character as a historical pivot defined by the nightmares of 9/11 and the Panic of 2008-09. Those of us old enough to remember life before the 26-year-long spree began will probably spend...
After a hard day in court, Rumpole repairs to Pommeroy's wine bar where he knocks back several glasses of "Chateau Thames Embankment." It's modeled on the El Vino wine bar, www.elvino.co.uk, at the bottom of Fetter Lane, off Fleet Street (although there are four other branches). The bar in fact boasts a distinguished wine list - absolutely no "cooking claret" - and traditional food such as steak-and-kidney pie. Flashes of inspiration occasionally strike Rumpole in these convivial surroundings, but more often than not he returns home to Gloucester Road and discusses the mysteries of his current case with...
...would also at last let France see its real face clearly. France's highly centralized government and top-to-bottom administration can keep tabs on myriad ways its 64.1 million population is evolving except in terms of its racial make-up. The prohibition on using ethnic or religious data - even if volunteered - means France can do no better than estimate that its population includes 4 to 7 million Arabs, 3 to 5 million blacks, some 1.5 million Asians, and around 600,000 Jews. (See TIME's pictures of the week...