Word: fallings
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...teams at Goldman Sachs and JPMorgan Chase avoided giant missteps in the lead-up to last fall's panic and are now wresting market share from wounded competitors and raking in billions. They've already paid back the bailout funds they got in October, which means they're exempt from compensation limits and can disburse their gains to employees in the form of titanic end-of-year bonuses. That's how capitalism is supposed to work, right? (Read "Hooray for Boring Banks...
...Goldman and JPMorgan played right along with many of the Wall Street practices that led to the crisis. They fought regulation - of derivatives, for instance - that might have prevented it. And their big profits can be traced not only to skill but also to the government's decision last fall to bail out the financial sector just as the troubles that toppled Lehman Brothers and WaMu and forced Bear Stearns, Merrill Lynch and Wachovia into shotgun marriages began to endanger Goldman and (to a lesser extent) JPMorgan. "No one should be confused about the extent to which the public sector...
...Ghost has been in the works for several years, well before the global economic meltdown. But the timing of the car's rollout this fall couldn't be better for the automaker. Although Rolls-Royce had a banner year in 2008, selling a record 1,212 Phantoms worldwide, the company has taken a substantial hit this year. Sales of the Phantom tanked by more than 34% in the first six months of 2009 as the superrich started to put the kibosh on their conspicuous consumption...
...delighted to see that 1989 was the subject of your recent issue, but I was disappointed that Poland's role in bringing about the end of communism in Central and Eastern Europe was almost completely ignored [June 29]. The fall of the Berlin Wall, albeit a very striking and photogenic event, had an entire article devoted to it, whereas the event that made it possible, the June 4 election in Poland, was only very briefly mentioned. The start of it all was the work of the Solidarity trade union, which by 1989 had been operating for a decade...
...President's task force on interrogation and transfer policies for terrorism suspects is readying a proposal for a new unit that will once again join together several agencies. The task force, granted a two-month extension last week, has until the fall to submit its report, but officials familiar with the deliberations say the interagency unit - comprising experts from the FBI, CIA and the military - will be a big element in any new interrogation blueprint presented to the White House. (Read TIME's Report: Why Obama Needs to Reveal Even More on Torture...