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That puts a lot of pressure on the prose, but Whitehead, whose writing earned him a MacArthur "genius" grant in 2002, makes the surface idiom-rich and plenty compelling. Benji is a Coke fiend (the drink, not the drug - he's a good kid), and 1985 was the year of New Coke, an announcement that hit him hard. "It was as if someone had popped the top of the world," he says, "and let all the air out." The simile perfectly fits the crime...
...Uemura's $29 lashes cost a lot less than lash-lengthening drug Latisse ($120 for a 30-day supply...
...asked a former CIA officer privy to the decision-making that led to the waterboarding of al-Qaeda leader Abu Zubaydah whether he thought the abusive tactics worked. His answer: to a degree. From the interrogations of Abu Zubaydah, Mohammed and other al-Qaeda prisoners, the CIA learned a lot more than it knew before about the group's communications, its use of safe houses and codes, and the outlines of its worldview. Valuable stuff, but stuff that could have been extracted through patient and relentless persuasion...
Much of the shadow-banking system is now gone or in hibernation. Two of its leading institutions, Goldman Sachs and Morgan Stanley, have become commercial banks. With fewer competitors, banks have a lot more pricing power, while Federal Reserve lending programs and Federal Deposit Insurance Corporation (FDIC) guarantees of deposits and bank-bond issues have sharply lowered funding costs. Net interest margins appear to be turning the corner, and as a result, it is not inconceivable that banks will be able to steadily earn their way out of their problems over the next few years...
...priced all bank assets at current market values, the banking system would be insolvent, the reasoning goes, so make them take the hit and then press restart. Those with actual banking experience, though, tend to be dubious about market pricing and counsel patience. "The banks have a lot of practice at working out troubled assets, and most other parts of the economy don't," says Gary Townsend, a former bank regulator and industry analyst who runs the hedge fund Hill-Townsend Capital. "So it seems to me you should leave it in the hands of the banks to manage...