Word: greedfest
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...center of the latest greedfest is Sam Waksal, an immunologist who turned into a dazzling biotechnology entrepreneur. In 1984 he founded ImClone, a little-known company until it made headlines for an apparent success with a cancer treatment called Erbitux in 1999. Waksal, 54, was always as much salesman as scientist and employed his reputation and charm as a ladder into elite circles that included home-decor guru Stewart, Mick Jagger, actress Mariel Hemingway, financier Carl Icahn and Dr. John Mendelsohn, the cancer-drug pioneer and former Enron board member. Waksal's eclectic posse combined science and celebrity with stock...
...verge of a greedfest like the reckless '80s, a period that youngsters may be surprised to learn was far more rapacious than anything served up during the Internet bubble. But change is in the air, and the wolves have their noses up. Last week Federal Reserve Chairman Alan Greenspan cut interest rates for the second time in less than a month. The rate cuts make it cheaper to borrow, a must in almost all buyouts that aren't stock swaps...
...instant millionaire. It equals 40 years of profit for Exxon. But if it comes from the tobacco industry, well, for a growing number of folks $300 billion is a sum to sniff at. This is the nightmare that proponents of a sweeping congressional tobacco settlement most feared: a greedfest from plaintiffs' lawyers and the public now that tobacco executives have come to the bargaining table. Consider the state of Missouri, which so far has steered clear of the tobacco suits. "I expect us to get in," Governor Mel Carnahan says. Why now? If there's a windfall, Carnahan would like...
WRATH IS CURRENTLY THE deadly sin of choice. If you were left out of the greedfest of the '80s, you can now rage against the growing gap between the haves and the have mores. If your job has gone to someone younger, prettier or darker, don't get even...
...Politics of Rich and Poor by Kevin Phillips. Twenty years ago, the Nostradamus of Washington correctly predicted the emerging Republican majority. Now Phillips foresees a populist backlash to the greedfest of the Reagan '80s. A provocative analysis based on social science and a cyclical view of history...