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...told Treasury last week that the AIG traders in question were still needed because only they could minimize the damage they had done. "AIGFP's books also contain a significant number of complex - so-called bespoke - transactions that are difficult to understand and manage," the company announced in a document sent to the Treasury by Liddy. "This is one reason replacing key traders and risk managers would not be practical on a large scale. Personal knowledge of the trades and the unique systems at AIGFP will be critical to an effective unwind of AIGFP's businesses and portfolios." In other...
...engine for the growth of a robust new green economy. Meanwhile, students will begin graduating from improved schools and moving seamlessly into this prosperous future. Shortcomings may lie in the details, but the economy won't really be fixed until the entire web is assembled. "I see this document differently," Obama told Congress as he introduced the budget. "I see it as a vision for America - as a blueprint for our future...
...maybe because I don’t like soda, not even a bit. But I think the most likely explanation for why I was bitter was that this forced me to open an account on Twitter. Seriously, though: a world where a Twitter feed unironically exists to unironically document the eight-week release of an oxymoron—natural soda—is a world where people seem to have lost all perspective. Though BevReview was covering the Pepsi story like television stations cover approaching hurricanes, no one seemed to notice that switching back to “real sugar...
...McCarthy heard about President Barack Obama’s reforms promoting scientific integrity in government earlier this week, he said he wasn’t shocked. “Nobody was surprised he did this,” said McCarthy, who was one of the original signers of a document in 2004 that accused former President George W. Bush of “misrepresenting and suppressing” science for political reasons. “Mr. Obama has surrounded himself with the very best scientific talent any president has had,” he said. “As advisers...
...There is, he recognizes, "no going back to the traditional system ... We have to incorporate free competition as well as the market mechanism into the lifelong-employment system." The key to success is to rely less on exports and more on domestic demand - a prescription that, a DPJ policy document says tartly, "has been on the table for the past 20 years." But Ozawa recognizes that to encourage the Japanese to shop rather than stash their cash in safety-deposit boxes, something more than exhortation is needed. "We have to give a sense of security to the population," he says...