Word: morganize
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Federal Reserve chairman Ben Bernanke, who in March put up $29 billion to entice JP Morgan Chase to take over struggling Bear Stearns, and Treasury Secretary Hank Paulson, who just over a week ago committed up to $200 billion in taxpayer funds to rescue mortgage lenders Fannie Mae and Freddie Mac, have opted not to go the bailout route this time. The Fed did announce yet another expansion of its lending programs to banks and investment banks, but so far that's it. The hope seems to be that if Lehman's (and perhaps AIG's) liquidation transpires...
Defying expectations of a breakdown in talks, Zimbabwe's President Robert Mugabe and opposition leader Morgan Tsvangirai concluded a power-sharing agreement late Thursday night, raising hopes that the country may be moving to end its long political nightmare. "We have a deal," opposition Movement for Democratic Change (MDC) leader Tsvangirai told reporters as he emerged from a meeting with Mugabe and South Africa's President, Thabo Mbeki, who has been mediating the talks. The news was certainly unexpected: Even late Thursday afternoon, Mugabe had been quoted as saying the two sides were far from agreeing on how to share...
...subject matter deals invariably with the consequences of modernity, depicting the forgotten faces of peasants in the Tibetan desert, or families displaced by the rising waters of the massive Three Gorges damn project. He's also done portraits of prostitutes in Thailand, and high school students in Boston. Says Morgan Morris, the Rome-based curator of this latest project: "Every time there's something coming to a head, he captures...
...June 27 runoff presidential election have left farming communities on the brink of starvation. Saving rural Zimbabwe from starvation will require a political settlement that restarts the economy and restores international assistance, but President Robert Mugabe remains locked in a stalemate over how to share power with MDC leader Morgan Tsvangirai. Tsvangirai won more votes than Mugabe in the first round vote on March 29, but boycotted the runoff in the face of violent intimidation. South African-mediated talks have sought to create a unity government, but the two sides cannot agree on how to allocate power within such...
...locating them strategically near ports and cities with large pools of labor, India has approved more than 500 SEZs as small as 5 hectares (12.3 acres), and scattered them all over the country. "I don't think that really makes sense," says Chetan Ahya, a managing director at Morgan Stanley in Mumbai. Throw in inconsistent guidelines about how to compensate displaced landowners, and standoffs like this one were all but inevitable. This is not the first heated protest over SEZs since the policy was put into place. "If they had let the private sector negotiate directly with farmers that would...