Word: hugeness
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...American Express in 1994. AmEx had gobbled it up 10 years earlier, and it wasn't in prime shape when AmEx spat it out. To compensate for its relatively small size and skinny capital base, Lehman took risks that proved too large. To keep profits growing, Lehman borrowed huge sums relative to its size. Its debts were about 35 times its capital, far higher than its peer group's ratio. And it plunged heavily into real estate ventures that cratered...
...they did because of Wall Street's classic business model, which works like a dream for Wall Street employees (during good times) but can be a nightmare for the customers. Here's how it goes. You bet big with someone else's money. If you win, you get a huge bonus, based on the profits. If you lose, you lose someone else's money rather than your own, and you move on to the next job. If you're especially smart - like Lehman chief executive Dick Fuld - you take a lot of money off the table. During his tenure...
...large part, such massive miscalculations have less to do with politics than with the simple fact that epidemiology involves an inordinate amount of guesswork. Routine re-evaluations of existing data often result in data shifts, sometimes huge ones, which global health experts and epidemiologists have come to expect. "If you go up to a little clinic in Africa, first of all, the staff are overwhelmed with patients," says Nahlen, who used to do monitoring work for WHO. The data, if it's properly recorded, then goes up to the officials, who may also be overwhelmed. Those records then get passed...
...After receiving nearly 7,000 entries from 26 countries, SIPF whittled down the selection to just over 800 works by 66 photographers, both established and emerging. More than half hail from Southeast Asia. "There was a lot of debate, but the huge quantity and variety was a blessing," says Terence Yeung, one of SIPF's four curators. "The very best images stood...
...young Newark, N.J., Jew heads off to college to grapple with the alien demands of the goyische world in this bizarre, flawed little book. Told in flat, uninflected prose--it reads like Portnoy's Complaint on sedatives--it's full of huge chunks of undigested philosophy and dialogue that could not possibly be spoken by a human being. It's hard to believe Roth used to be witty...