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Even in the current economic gloom, bankers have been loath to part with one massive perk of their jobs - the lavish bonus. Not surprisingly, this rankles everyday people greatly as they struggle to rebound from the turmoil of the past year...
Gorman has said that while the firm will shut down part of its trading desk it has no plans to fully exit the investment-banking business. It still plans to advise clients on mergers and manage stock and bond offerings, as well as complete trades for others. Gorman recently told employees at a town-hall-type meeting, "The heart, the DNA - the fabric of this place - has always been the institutional securities [investment banking] business and, frankly, should always be ... That's our roots." (See 25 people to blame for the financial crisis...
...reasons when sick people need them most) and annual and lifetime spending caps that insurers place on some policyholders would immediately be banned. For those who can't get insurance because of pre-existing conditions, a catastrophic-care fund would immediately be set up to provide coverage. And as part of an agreement with the pharmaceutical industry, seniors who fall into the so-called doughnut hole (after they spend their first $2,700) in the Medicare Prescription Drug Program would immediately start receiving 50% discounts...
...successes. Air strikes may have killed two prominent al-Qaeda commanders over the past fortnight. If confirmed, the deaths would be further blows to the terrorist group. Last month, Baitullah Mehsud, the head of the Pakistani Taliban and a key al-Qaeda ally, was killed in a remote part of South Waziristan. Mehsud's death has sown discord among his followers, with the new leader struggling to maintain control of the increasingly fractious alliance. The tribal areas "can no longer be described as a safe haven," says a senior Western diplomat with approval...
Which is why the concert's supporters, including many in the Miami exile community, say it's time for the Obama Administration to revive the U.S.-Cuba cultural exchanges that began in the 1990s but were nixed under former President George W. Bush. "I took part in the Bay of Pigs, and I've been fighting the Castros for 50 years," says Francisco (Pepe) Hernandez, 73, president of the Cuban-American National Foundation in Miami, which backed Juanes' efforts despite protests by more hard-line exiles that included smashing the singer's CDs in Little Havana. "But it was tremendous...