Word: coverable
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...positions that were totally fictional," Bouton told reporters at a Paris news conference on Thursday. "That is what is so extraordinary about this case." Bouton's offer to resign was rejected by the bank's administrators this week. Bank official said Thursday they needed to raise $8 billion to cover their losses and that 2007 profits would likely be between 600 million to 800 million euros (about $874 million to $1.16 million), a sharp drop from its 2006 profits of about 5.2 billion euros...
...trades. He then transferred to a position trading in so-called "plain vanilla" stock futures in European markets. He earned a salary of about 100,000 euros (about $147,000). In his new job, he began trading far beyond his responsibilities, racking up debts as global markets gyrated. To cover his losses, he created complex fictitious trades, until the losses appeared to spiral out of control. Said Kinner Lakhani, a London-based analyst for the Dutch bank ABN Amro, who covers Société Générale: "It was out of the realms of anyone's expectation...
...just couldn't believe that the cover read, "Why We Need to Save Pakistan." Absolutely shocking. At this crucial time for our country, TIME suggests we divert our lives and money to save Pakistan - as if it even has a chance of being saved. Haven't our experiences in Iraq and Afghanistan proved that our presence has accomplished little or nothing, made more enemies throughout the world and cost trillions of dollars? It's about time we stopped sacrificing American lives for impossible causes. Ed Jacobson, Whiting...
...That intriguing cover of Bhutto was a slam dunk. The half-page shot was a symbolic depiction of her life. Can a person really live two lives, as a member of Western and Islamic societies? Sadly, as the cover seemed to suggest, that is unlikely. Dale Hill, Anadarko, Okla...
Government by the People You got it right with your cover headline, "It's the Voters, Stupid. Forget the experts. Forget the polls. Forget the TV ads" [Jan. 21]. What the primary results from New Hampshire showed, once again, is the arrogance of America's national media - especially television news. The press seemed downright insulted that the voters of New Hampshire didn't vote the way the commentators and pollsters said they would. It's long past time that the talking heads acknowledge they don't have any more political insight than do the schoolteacher and garage mechanic pulling...