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Insider trading hasn't always been a crime. On the contrary, it was once considered logical and efficient to let any competitive advantage inform decision-making in the free market - a position many economic libertarians continue to embrace today. What some consider to be America's first insider-trading scandal took place shortly after the nation's birth; a former Assistant Treasury Secretary named William Duer capitalized on his government connections to make bets on the country's debt. His investments eventually soured, however, and Duer's bankruptcy brought down much of New York's economy in 1792; he died...
...Maclaren's response hasn't been sterling. Yet over the long term, the company could recover. "I don't feel threatened by the stroller," says Greg Allen, a father of two who writes Daddy Types and who plans to keep using his Maclaren. And before saying how "really pissed off" she was about the recall, the author of Mother Load wrote, "I'm not ready to break up with you, Maclaren." The question is how many Maclaren parents will forgive and forget...
...there be costs?" says Thomas Philippon, a young Frenchman who teaches finance at New York University's Stern School of Business. "That is because it's harder to measure, and it's a bit more controversial." Philippon has begun trying to fill this research gap, and while he hasn't come up with definitive answers, he has made some very interesting discoveries. (See 25 people to blame for the financial crisis...
...Washington on the Friday before the Obama Inauguration. The affection and respect she gained for the military while serving in the Senate has helped make the relationship between State and the Pentagon less fraught than usual - although Defense Secretary Gates' insistence on the need for bigger State Department budgets hasn't hurt. In fact, relations with the Pentagon have gone smoother, at times, than Clinton's relationship with the White House staff. Clinton was particularly irritated by the ridiculously strict vetting process that thwarted her favored candidate for USAID director, Paul Farmer, from getting the job. "It was all sorts...
...though, Clinton's success will be determined by whether she can expand her role beyond public diplomat. She will have to become a more sure-handed negotiator and, most important, a trusted adviser to a President who knows where he wants to go in the world but hasn't quite figured out how to get there...