Word: commissioners
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And yet in the wake of the government's unprecedented take-over of insurance giant AIG, the shares were punished. Mack got in touch with the chairman of the Securities and Exchange Commission and the Treasury Secretary, and then sent out an e-mail to employees: "It's very clear...
But even before 2001 there was a widespread, bipartisan Washington consensus that financial markets knew best. And even when some in government suspected that they didn't, the territorial lines between regulatory agencies often stood in the way of doing anything about it. The Securities and Exchange Commission, well versed...
If you have a fixed-rate annuity, or a life insurance policy, the ruling regulator is the state where you bought the policy. This is a little trickier. The payout AIG has promised you comes from assets it holds in its general account. If the state insurance commission believes AIG...
Rumors that foster conflict between groups are quite damaging. Racial rumors that lead to dehumanizing of other groups of people fall into this category ("group X eats humans" or "has cheated the majority"). Rumors that foster distrust between groups also belong here. More spectacular are the many rumors that spark...
But European integration rather than nationalist fervor remains the source of the town's economic success - despite the demise of its traditional livelihood, Arbroath's unemployment is falling and its wages rising at rates above the national average. Indeed, Arbroath has begun to flourish as a result of investment from...