Word: centralizes
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...film put me in mind of another incident from the '70s. I worked for a woman whose 18-year-old daughter was bicycling through Central Park when a 15-year-old boy stopped her, stole her bike and killed her with a tire iron. The grieving mother's response to this atrocity was to write a letter to the Times asking for the murderer not to be taken down by vigilantes or executed by the state, but treated with justice and mercy. It probably wouldn't make a very good movie, but that woman was heroic. She knew that...
...Society merged with the Rock Building Society to become Northern Rock in 1965, it's hard to imagine it was too troubled by the health of the U.S. mortgage sector. But times change. The tight squeeze in the global credit markets has struck another financial institution, and forced another central bank to intervene...
...likely to fold. Britain's Financial Services Authority called the bank's loan book "good quality" in a statement issued jointly with the Bank of England and the U.K. Treasury. And though it's not yet clear how big the Bank of England's lifeline is, the central bank's cash means savers' own deposits are safe. "If I were a depositor, knowing I have the Bank of England behind me is probably the safest place to be," said Adam Applegarth, Northern Rock CEO. That didn't stop lines forming outside some of the firm's branches, with savers keen...
...June 10 parliamentary elections, was expected to build a coalition with the francophone Christian Democrats, as well as the two liberal parties. But that planned "Orange-Blue" coalition collapsed in acrimony after Leterme insisted on a government platform that would wrest more power from the already weak central government and hand it over the increasingly powerful regions. They already control transport, housing, agriculture and education, but Leterme - playing to his base among prosperous Flemings who resent paying taxes to subsidize lagging Wallonia - sought to add taxation, social security, economic policy, immigration and nationality. The Francophones balked, Leterme stepped back from...
...familiar with the investigation. It was National Security Agency surveillance of communications between Germany and Pakistan, along with some help from Pakistani intelligence, that first uncovered the plot last October and "set the ball rolling," the German official told TIME. The investigation culminated last week in the arrests in central Germany of three ringleaders, two German nationals and a Turk, and the revelation that the cell was plotting a "massive" attack, possibly on U.S. targets in Germany. "U.S. intelligence was of utmost importance," said the official, who asked not to be named. "The U.S. was even more prominent in this...