Word: fiascoes
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...wake of the debacle that it's about to launch a bid it had contemplated even before the Kerviel affair. Meanwhile, comments by French officials indicating the government would step in and prevent foreign "predators" from exploiting the Société Générale fiasco drew fire from European Union authorities. Mistral suggests that BNP's shot across the bow was a boon for the government: "by signaling to rivals abroad that French banks are already on the case, BNP saves President (Nicolas) Sarkozy and his advisors the trouble of noting that foreign suitors need not apply...
...decades later, only after numerous Freedom of Information requests had prized the buried treasure from the CIA vault. Now the latest intelligence evaluations were being announced worldwide, nearly in real time. "It's just mind-boggling," a former CIA officer told me. "The impact of the Iraq WMD fiasco is coming home to roost. The intelligence community was badly burned by that. And the various players never want it asked of them again, 'Why didn't you stand up to the Administration and tell it the truth...
...stars seem to be aligning for a new consensus-driven renaissance at Harvard. The Committee on Campus Life (CCL) is soon to spawn a subcommittee on student group funding in the aftermath of the Party Fund fiasco. A joint subcommittee of the CCL and the CHL will soon begin contemplating College-wide alcohol policies for House events...
There was, too, the fumbling FEMA, which, desperate for redemption after the fiasco of Katrina, almost seemed to get it right, until it staged a faux news conference touting its achievements and the comeback campaign came undone. Finally, of course, there are Americans as a whole, a stubbornly homesteading people who never seem to tire of building in the paths of fires, hurricanes and coastal floods. There is little to suggest that the California blazes have broken us of that obstinate habit. But there is much to suggest that when the crises do hit, we'll at least be ready...
...fury of Filipino politics - a blood sport traditionally contested among entrenched dynasties. Yet the accretion of scandal also appears to be eroding support for the President among some in the business community, one of her power bases. "We're really distressed about the way she lurches from one fiasco to another," says Alberto Lim, director of the Makati Business Club, an influential lobbying group that has previously called for Arroyo's resignation...