Word: cashed
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...worth about $73 billion. That's actually more than the bank's entire worth by around $25 billion. Instantly, this evoked comparisons in the media with another lone rogue, Nick Leeson, whose fictitious trades in Singapore lost $1.4 billion for Barings Bank in 1995, wiping out the bank's cash reserves. Leeson was arrested after an international manhunt, and spent more than three years in a Singapore jail. By contrast, Société Générale executives simply suspended Kerviel - perhaps to avoid panic selling. Executives then quietly unwound his disastrous transactions on the financial markets over...
...traded - thus triggering attention from departments that knew nothing of his trading history. Kerviel learned the intricacies of the bank's controls during his time working in middle-office jobs, before moving to the trading floor in 2005. "He chose very specific operations which were not involving any cash movements," Mustier said. "He managed to place transactions which did not require immediate confirmations...
...Others blast the DNC ruling for what they call its hypocrisy: it still allows candidates to attend fund raisers in Florida, essentially telling the state that while the party won't take Florida's delegates, it's more than happy to take its cash. Clinton herself was scheduled to hold two such events in Miami Beach on Sunday, one of them a $2,300-a-head reception hosted by a developer, though neither is open to the press or public...
...this appearance advantage did not particularly help Romney in the early primary states. In Iowa and New Hampshire, states where voters expect - and usually receive - face time with every candidate, Romney came across on the stump as stilted and rehearsed. Voters flocked instead to the personality-rich and cash-poor campaigns of Mike Huckabee and John McCain...
...rock star, Hillary Clinton as the workhorse Senator who knew her stuff. She had the money, the machine and the momentum, until all of a sudden she didn't. There was Barack Obama, on his postpartisan pedestal, a transformational figure who somehow made hope sound hip, raised tons of cash, got kids to actually show up and vote, had red-state Democrats lining up to endorse him. This was not the fight the Clintons had trained for. Something had to change, and quickly...