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...will India do it? The key to sustained 9% growth, says Rajat Nag, the managing director general of the Asian Development Bank, "is governance." Behind that new buzzword lies a fundamental truth. The successful modernization of societies, it turns out, is not just a question of economics - of getting the macroeconomic fundamentals right and letting market forces and the private sector do the rest. It depends also on having effective, clean governments, at every level down to the village, which do not waste economic largesse or appropriate it for the use of their own politicians and officials. That has long...
Gasparino is one of the Street's war correspondents and at his best when describing the fall of Lehman. It's the key battle, in a sense, since Lehman was a major force behind the subprime-mortgage bonds that were the culprits in the collapse. Gasparino is particularly good at capturing--via the profane, telling quote--the high-noon drama of the meltdown. When Morgan Stanley CEO John Mack tells Lehman boss Dick Fuld, "There are rumors that you guys are in trouble," Fuld, the "Gorilla of Wall Street," answers with tough-guy bravado, "It's bullshit." Lehman's stock...
...Harvard was not to be denied in the goal-mouth scramble, as Smith popped up once again for his second goal of the season. The big defender is making a habit of scoring key goals for his team. The first tally of his career came last week in a 1-0 win against Penn and gave the Crimson the Ivy League title and a first-round bye in the Tournament...
...incident even older than Mujib's assassination remains buried. When Bangladesh - then East Pakistan - split from West Pakistan in 1971, the Pakistani army embarked on a killing campaign, leaving as many as 3 million people dead. Many Bangladeshis who abetted and served alongside the West Pakistani army remained in key positions of power in the years following Mujib's death. Now, there's a growing call for the government to launch an inquiry into those suspected of war crimes and eventually set up tribunals. It's unclear whether Hasina's government will risk reopening the country's many old wounds...
Such arrangements are anathema to the key Western powers, of course. But the key leaders in Tehran don't appear to feel a wall at their backs on the nuclear issue. Mottaki's insistence that Iran accepts the "framework" of the deal and Ahmadinjead's declaration last weekend that the Islamic Republic is committed to "nuclear cooperation" with the international community suggests that they know they'll have to show flexibility and deal, but they may still believe they can strike a more favorable agreement - or withstand the level of pressure the U.S. and its allies can muster...