Word: gaine
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...respectively by the closing bell, they combined with an early 3.5% drop on Mumbai's Sensex and declines in Australia, South Korea, Singapore and the Philippines to darkened moods in Asia. By contrast, London's FTSE 100 reversed its initial dip to post a 1.7% gain for the day, while Frankfurt's DAX surged to end 0.4% up and Paris' CAC 40 finished the session a full 2% higher. Compare those with Monday closings of -5.3%, -4.2%, and -5% respectively...
...take a different look at that beating on the Dow. Turn the $1.2 trillion into a gain (say, by passing a bailout law that actually loosens stuck gears of credit) and the long-term capital gains tax on it is $180 billion, which could buy a lot of crap CDOs. And then perhaps resell them at a profit. If we take that $1.2 trillion as a loss, the government foregoes tax money, because taxpayers will report lower incomes after they write off investment losses. Revenues drop, so the government then has to keep priming the pump by increasing spending, which...
...Barack Obama. "From the minute John McCain suspended his campaign and arrived in Washington to address this crisis, he was attacked by the Democratic leadership: Senators Obama and Reid, Speaker Pelosi and others," said Doug Holtz-Eakin, a McCain senior policy adviser. "Their partisan attacks were an effort to gain political advantage during a national economic crisis. By doing so, they put at risk the homes, livelihoods and savings of millions of American families...
...former CEO of Goldman Sachs, Paulson has a conflict of interest. It seems that it would be really difficult for Paulson—or anyone given control of $700 billion—to resist helping out his former business buddies. Not surprisingly, Goldman Sachs has much to gain under the plan. If none of these reasons send out warning bells to Americans, the proposed freedom from review for Paulson’s $700 billion should. As former chairman of the Harvard economics department Oliver Hart stated, “We’re meant to trust the Treasury to enact...
...Program on Negotiation. Previous winners of the yearly prize have usually been affiliated with international diplomacy; this is the first time artists have received the award. As the event progressed, it become more and more clear not only how persuasive Christo and Jeanne-Claude must be in order to gain permission and support their controversial projects, but also how central those negotiations are to the artistic process and to the art itself.“The process is absolutely part of the work of art, but it is not the aim,” Jeanne-Claude said...