Word: preventative
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Treasury Secretary Tim Geithner had every reason to think he had seen all of AIG's dirty laundry. The government owned 80% of the company, and Geithner had just orchestrated AIG's most recent handout - its fourth, if you are keeping score, for $30 billion on March 2 - to prevent the teetering insurance giant from going over the cliff and taking the rest of the global financial system with it. AIG had already cost the taxpayers some $170 billion, mostly to repair the damage done by one of its units, AIG Financial Products (AIG FP), which last year alone piled...
...That perceived disingenuousness may come back to bite Beijing, in two ways. "If they're seen as just inventing reasons to prevent big Chinese companies from being acquired, that's going to have a chilling effect on foreign investment," says a senior Hong Kong investment banker. It will also hurt China's own economic interests abroad. The Australian government is reviewing the proposed $19.5 billion investment from Chinalco - China's huge state-owned aluminum company - in Rio Tinto, the world's second largest mining company, as well as a couple of other, smaller deals in the mining sector. But opposition...
...giving them an option that they didn’t have before,” he said. Smith said that Passim’s lack of a bar and its limited alcohol offerings—only two types of beer and wine and no hard liquor—would prevent the venue from becoming drunken and noisy. Smith said that so far, the move to serve alcohol has been a “resounding success.” Sales over the weekend were “very good” as customers collectively imbibed two kegs of beer...
...Filibusters, in moderation, are a good way for the minority to prevent or, at the very least, delay the sometimes-overreaching ambitions of the majority. That can be a good thing. Indeed, it is particularly useful in times of crisis and populist hysteria to have a braking mechanism that causes Congress to at least stop and think before it acts...
...turmoil over Khatami and Moussavi reflects the reformists' challenge of finding a single candidate capable of winning support not only from traditional reformist voters, but also from less engaged, moderately conservative voters - and, at the same time, ensure that such a candidate offers enough promise of change to prevent the young voters Khatami attracts from staying away from the polls. It's a real dilemma, and one that Ahmadinejad's backers are clearly enjoying...