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...oversight, Citi will again award outsize pay packages to its top executives. In 2008, despite steep losses at the bank, Citi reportedly paid energy trader Andy Hall $100 million. Indeed, a number of top Citi officials already seem to be cashing in on the bank's loosened pay restrictions. Earlier in the week, Citi, which lost $1.6 billion in 2009, disclosed that it had paid John Havens, widely seen as the bank's No. 2 executive, nearly $10 million in compensation for his work last year. That topped even the salary of Goldman Sachs chief executive Lloyd Blankfein...
...sterling for dollars. Toss in the relentless pressure from speculators betting on a falling pound, as well as Britain's generally horrible fiscal position, and "sterling has sailed into a perfect storm of negativity," Nick Beecroft, a senior foreign exchange consultant at Saxo Bank, wrote in a research note earlier this week...
...attack that sank the Lusitania - the sudden concussion of a torpedo, compared to the slow grinding of an iceberg - would also be likelier to spark panic. Finally, there was the simple fact that everyone aboard the Lusitania was aware of what had happened to the Titanic just three years earlier and thus disabused of the idea that there was any such thing as a ship that was too grand to sink - their own included...
...military assistance to Phnom Penh regardless of the outcome of the hostage negotiations - a pledge Gaisford says "was effectively the signing over of [the hostages'] death warrant," since the Cambodian army was more focused on proving its prowess than on collateral damage to the hostages. In contrast, just months earlier the American embassy had assisted in the release of American aid worker Melissa Himes by sternly warning Cambodia that any state attack on the area in which Himes was being held would jeopardize the flow of U.S. aid money, allowing negotiations between her NGO and the Khmer Rouge to continue...
...telling TIME that local firefighters had warned residents to evacuate after a strong quake in a simulation exercise two weeks before last weekend's tremor hit. "When I was in Constitución [a town north of Concepción on the coast], they told me that two weeks earlier, the local firefighters ran an earthquake rehearsal," she said. "They taught the population that if they could not stand up while it was trembling, it meant they had to go up into the hills because there was the possibility of a tsunami. So in that town this situation happened...