Word: markets
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...recent years, as India embraced the free-market philosophy she championed, Devi--disillusioned by political corruption and the decay of her beloved city--devoted herself to charitable work. "Jaipur is ruined," she said in a 2006 interview. "Everybody's just making money." The feudal excess of its royal past had been replaced by the excesses of concentrated wealth and power, and the love of a princess wasn't enough to save...
Meticulous and ever more mysterious as his fame grew, Madoff hawked his investment fund to a largely Jewish clientele, eventually sucking in large European banks too. Promising unwavering 10%-to-12% returns whatever the market, Madoff became known as "the Jewish T-bill," as in risk-free. Of course, there was no investing. For more than two decades, he used an ever larger stream of money from new investors to pay off earlier ones. His résumé supplied a perfect cover: former head of Nasdaq, a tech wizard who brought computerization to Wall Street...
...level of suspense. But Oppenheimer can be good at the juicy quote too. One victim told him, "What were we going to do--call up Bernie and tell him, 'God, I'm making too much money. What's going on?'" Or the small detail. If you're in the market for a description of Madoff's opulent walk-in closet or the tidbit that his mother wouldn't buy him Keds, then Oppenheimer is your...
...element" of the Obama Administration's drive to overhaul the country's health-care system. White House Press Secretary Robert Gibbs echoed that point on CBS's Face the Nation, where he said that Obama's "bottom line" is that there should be "choice and competition in the insurance market." Hardly a new development, considering that the White House and the President have been sounding pretty flexible for months on the subject of a public option. Spokeswoman Linda Douglass reiterated that in a statement on Aug. 16. "Nothing has changed," she said. "The President has always said that what...
...option as anything other than a means to an end - one that he would be perfectly willing to achieve through other avenues if necessary. His goal is twofold: to provide a low-cost alternative to the private system that already exists and to assure competition in a health-care market where it is generally lacking. Though there are more than 1,000 private insurance carriers in this country, the dominant ones operate as a near monopoly in most states. (See the top 10 medical breakthroughs...