Word: partly
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...father William, who got his start in 1963 with a 5-acre plot of New Jersey swampland. The turnover targets were perhaps "more aggressive than people think they should have been," but he says, "Life is too short for us to have done this, with this small a part of our portfolio, if we didn't actually think we were doing the right thing. Whether or not we executed as perfectly as we could - I'm sure that we made mistakes - our true intention here was to make money by doing good...
...decontrol. The upshot, according to a recent Deutsche Bank analysis, is that the property, purchased in late 2006 for $5.4 billion, "would fetch less than $2 billion if sold into the current dislocated market." It added that the most natural buyer was MetLife, the insurer and original owner, in part because it represented "patient capital...
...course, some say it is normal that banks would be hurting at this part of the recovery cycle. People and companies continue to fall behind on their debt obligations long after the economy turns. While the banks' lending operations still look weak, the volume of bad loans at many of the banks, including Citigroup and JPMorgan, are piling up slower than in the past...
...payments the banks made to the government, the fourth quarter was 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...
...makes cultivation more challenging. Deforestation - a major problem in Haiti, but not in its neighbor - has only exacerbated the problem. Other differences are a result of Hispaniola's long and often violent history - even TIME called it a "forlorn, hate-filled little Caribbean island" in 1965. On the eastern part of Hispaniola, you'll probably speak Spanish; in the west, it's more likely to be French or Creole, a division that's the result of centuries of European colonization and numerous power struggles. (Not to mention the decimation of Hispaniola's indigenous Taino people - who, of course, spoke none...