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...world." But that claim soon came back to haunt him. In December it emerged that Sean Fitzpatrick, the chairman of Anglo-Irish, the country's third biggest lender, had concealed from shareholders more than $100 million in personal loans by temporarily transferring the money to a building society. Amid public outcry over the scandal, the government nationalized Anglo-Irish and recapitalized two other banks to the tune of $10.5 billion...
...neighbor Guinevere Kirk, a nurse, is also firmly opposed to NAMA. Along with the rest of Ireland's public-sector workforce, she faces a probable wage cut in December when public spending is expected to be slashed in the budget in a bid to reduce Ireland's gaping deficit. "No one even knows if [NAMA] will work because it's never been done before," she says. "All I know is that it won't be the developers or bankers who'll be feeling the pain if it all goes wrong." (Read "Ireland's Economy: Celtic Crunch Time...
...apply to today's digital media. "There aren't enough cases yet for anybody to tell whether there are nuances or differences to be drawn from how courts actually apply the Sullivan standard to online speech," says Sandra Baron, executive director for the Media Law Resource Center. Basically, a public figure can win a defamation claim if he proves that an individual person or media outlet published something about him with so-called actual malice - knowing it was false or with reckless disregard for the truth. This standard offers considerable protection for media outlets; actual malice is difficult to prove...
...Life in the Motor City Re TIME's story by daniel okrent [Oct. 5]: The violence that has beset Detroit is, sadly, well known, but the utter collapse of the public-school system is just starting to be understood. Nothing captures that collapse better than the video, popular on YouTube, that shows the shocking condition of the building that once housed Detroit's famous Cass Technical High School. Cass Tech meant a lot to me and other graduates for the opportunities it gave us. The old building, abandoned for a newer facility for the school, was a war zone...
...other crops. In 2005, policymakers launched the Bharat Nirman program, aimed at providing electricity, housing and irrigation systems to the country's farmers, and, a year later, the National Rural Employment Guarantee Scheme, which promised at least 100 days of work each year for poor farming households, often on public-works projects to develop infrastructure in the countryside. In the latest federal budget, announced in July, funds allocated for the rural jobs scheme jumped 144% from the previous year to more than $8 billion - making it the largest social-welfare program in the budget - while funding for Bharat Nirman...