Word: lost
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...against a backdrop of red roses, and later he mourns the death of his beloved grandmother Toot. Meanwhile, in the Chicago suburbs, the conservative German-American widow Mrs. Schultz and the Obama-supporting Johnson family bond over their worries (the Johnsons' son is missing in Iraq; Mrs. Schultz has lost her house) and their excitement about the 2008 presidential election. Mrs. Schultz, a McCain supporter at first, is eventually wooed to the Obama side...
...overly pro-Obama feel of the musical - as well as the support he obviously still enjoys among those in the audience - was not lost on the critics. "Had Obama been running for President in Germany, he would certainly have gained more that just 53% of the vote. Among the crowd at the musical, he would easily have gotten 99.9% - a result that even East Germany's Communist Party would have been proud of," a reviewer for the German daily Frankfurter Allgemeine Zeitung noted. "The audience kept finding reasons to cheer on the black Messiah." (See a TIME video...
This week the largest financial firms in the nation have been reporting how they did in the last three months of 2009. In two words: not good. Citigroup and Bank of America lost roughly $8 billion and $5 billion, respectively. The credit-card and mortgage businesses of JPMorgan Chase, which reported their earnings last week, were a disappointment. Wells Fargo posted a profit, but nonperforming loans and related charge-offs both jumped. Morgan Stanley turned a profit in the fourth quarter, but it was less than what analysts expected. Even earnings growth at Wall Street powerhouse Goldman Sachs somewhat slowed...
...still a doozy. Sales at Citigroup, for instance, fell in three of its biggest units - investment banking, consumer banking and transaction processing - compared with the prior quarter. So while Citi's government-assistance repayment accounts for a big part of its losses, even without that, the bank still lost $1.4 billion in the last quarter of 2009. (See pictures of TIME's Wall Street covers...
...feds thus far have only been able to recover assets valued at about a tenth of the Ponzi scheme's take. But Rothstein's alleged investor victims are hoping his guilty plea will mean improved chances of retrieving more of their lost money. "It helps because it means he can testify in civil trials now, and he's said he wants to help make things right," says Scherer. He has filed suit on behalf of victims against Rothstein and Toronto Dominion Bank, which handled the accounts Rothstein used to conduct the alleged Ponzi scheme. (TD Bank insists it exercised proper...