Word: crediteers
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...life through thoughtful, rigorous storytelling. At the Philadelphia Inquirer, where he spent much of his career, and later at TIME, he edited stories that won multiple Pulitzer Prizes and two National Magazine Awards. Lovelady, who died Jan. 15 at 66, was the ultimate writer's editor, never taking credit for the work of others even as he made it better...
...eternal credit, when a flock of 4½-year-olds descended in the middle of my afternoon nap, she rose to the occasion, conjuring a cake out of her pantry and a celebration out of thin summer air. It's true that for years afterward, she wouldn't let me forget it, that party I'd somehow arranged in the sandbox without permission. Eventually I reminded her of the important part, that when you are 3, going for the entire year without your friends hoisting you up to 4 seems cosmically wrong...
...even some Wall Streeters say proprietary trading and other principal investments played a much larger role in the losses that were at the heart of the financial crisis. What's more, if the firms had been barred from using their own money to buy mortgage bonds, much of the credit-and-housing bubble might not have been able to form...
...executive Vikram Pandit, too, has said he believes banks need to start curtailing their riskier activities. In November, speaking to business students at Washington University in St. Louis, Mo., Pandit said that unlike with other financial crises, proprietary trading played a much bigger role than underwriting in the recent credit crunch that nearly brought down his firm. "It makes sense to me that you don't take deposits as an institution and turn around and run a hedge fund," he told students...
...death would represent a major victory for both Washington and Islamabad. Pakistan's most wanted man had claimed responsibility for the Dec. 30 suicide bombing by a Jordanian triple agent who killed half a dozen CIA personnel on a base in Afghanistan's Khost province. He had also claimed credit for a series of high-profile terrorist attacks in Pakistan and the ongoing wave of violence across the country that has killed more than 600 people since October...