Word: firm
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...There was a lot of wishful thinking that the financial crisis would not extend to the rest of the economy," says Robert Arnott of the investment-strategy firm Research Affiliates. "But that is - and was - naive...
Economist Nouriel Roubini, chairman of New York City - based research firm RGE Monitor, earned the nickname "Dr. Doom" by warning as early as 2005 that America's speculative housing boom could trigger an economic crisis. At the time, he was dismissed by many as a perpetual pessimist. Today, he's a sought-after analyst and a popular guest on financial-news programs and websites - and he's as gloomy as ever. Over breakfast in Hong Kong recently, the New York University professor talked with TIME's Michael Schuman about the perils that lie ahead if governments do not do more...
...need more. Monday morning, AIG reported a colossal loss of $61.66 billion for the fourth quarter of 2008. Citigroup also cast its own dark shadow with news last week that the government will convert preferred shares it owns for up to a 36% stake in the troubled financial services firm...
...Several European Union states, chiefly Germany and Portugal, have voiced support for the idea of accepting detainees in the EU. Moreover, the possibility of increased cooperation has numerous benefits, including the creation of a double sense of solidarity. A shared transatlantic commitment to responsible, humane detention should balance a firm promise to fight terrorism on all fronts...
...military commissions”—controversial bodies that have flouted habeas corpus and other legal principles—he would prefer prosecutions for detainees in U.S. federal courts or in the regular military justice system. But this preference is not a substitute for firm policy: The use of military commissions should be explicitly and permanently forbidden, and, at some point, someone must be held accountable for the unconstitutional use of such kangaroo courts by the Bush administration...