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While this is wily, it's legal. But news organizations may not tolerate others cherry-picking their content and repurposing it for profit for much longer. "Someone is going to sue the Huffington Post," says Joshua Benton, director of the Nieman Journalism Lab at Harvard University. "It's not just about the volume of the content that it appropriates, it's about the value." There are other aggregators, but HuffPo is the most tempting. "It's a big player, and the site that has got closest to the line" between fair and unfair use of copy, Benton notes...
...perfect media device also needs to be able to do video.) Once we've got the All-Media Device, we're back in business. In the meantime, the migration from the Web to the post-Web world - where content is easier to consume on new mobile devices, but no longer free - is fully underway. (Read about the new iPod Shuffle...
...spread to the lender. Typically, the owner of the shares takes that collateral and invests it in something with low risk and of short duration, like commercial paper. The lender is exposed to some risk, but it usually isn't catastrophic. However, AIG took the collateral and invested in longer-term, higher-risk mortgage- and asset-backed securities. "Crap," as a portfolio lending expert describes them. When those securities crashed in value...
...planning to put another several hundred billion dollars into buying up debt to help bring down interest rates. Nearly $300 billion of that will go to buying longer term Treasuries. If that causes interest rates to fall, it will help people who borrow money in the future, but may not do very much for Citi's clients who borrowed money over the last two years. Many of those clients are tapped out, and the big bank faces hundreds of millions, possibly billions, of dollars in write-down of consumer loans. That does not take into account the amounts that will...
Judicial options were raised outside the Beltway. As he announced that AIG had paid so-called retention bonuses of $1 million or more to 73 employees, including 11 who no longer work there, New York Attorney General Andrew Cuomo questioned the validity of the contracts that guaranteed those payouts. He said the agreements were made in March 2008 to duplicate employees' 2007 bonuses "despite obvious signs that 2008 performance would be disastrous." (To further fuel the outrage, Cuomo added that the top individual AIG bonus was more than $6.4 million, while the top 10 collected a total of $42 million...