Word: knew
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...angered shareholders, some of whom have sued the company for not informing them sooner. And last week, the losses also led Lewis to ask Merrill's top executive, John Thain, to resign for failing to keep BofA officials apprised of his firm's bottom-line problems. Thain says Lewis knew all along. (See pictures of TIME's Wall Street covers...
...when Captain Renault, the head of the local police, finds out that there is gambling going on in the cafe owned by Humphrey Bogart's character. Renault's reaction was to say that "I'm shocked, shocked to find that gambling is going on in here!" Of course, Renault knew about the activity and was taking a few dollars on the side...
...Investment banks have been paying out bonuses for decades and in many years those sums were astronomical. Certainly Mr. Paulson, who ran Goldman Sachs before going into public service, knew about it as did everyone in the New York Federal Reserve. Paulson had, after all, had his years of big bonus payments. (Read TIME's story on whether Paulson can save the economy...
...When the major banks and brokers got their first chunk of TARP money in October, everyone intimately involved in the process was aware of how Wall St. compensation works. But, the only conversations about salaries and bonuses were directed at the CEOs of the big firms. The cognoscenti knew that top traders and investment bankers often made much more than their bosses...
...knew about the first, failed mission. But he couldn't see the cloud, which lingered in a gap between airport weather stations. Kirby decided it was safe to launch. He flew his bright yellow Bell 407 helicopter to the hospital, picked up the patient, and took off for Houston at 2:46 a.m. Two minutes later, Kirby was flying 600 ft. above dense forest at 122 m.p.h., near the spot where the first pilot aborted. Kirby lost radio contact with the hospital in Houston. His helicopter dropped suddenly, to 100 ft. Its rotor sliced into thick pine trees. The cabin...