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Citigroup, in an effort to improve its bottom line and repay the government, has put a "For Sale" sign on numerous pieces of its business, downsizing what once was the nation's largest bank. Citi's executives are taking a decidedly different tack in trying to rescue their firm than their competitors, and some analysts question whether the downsizing alone will be enough to turn around the bank...
Asia appears to be recovering from the global recession faster than the West. But the financial imbalances that triggered the worst economic crisis in memory could still put the brakes on the world's fastest-growing economies. So warns economist and Morgan Stanley Asia chairman Stephen Roach in his new book, The Next Asia, a collection of his essays and analysis from the past several years that foreshadowed the meltdown. The following is an exclusive excerpt from the book's introduction...
...microcosm of the broader Asian development model, Wen's "four uns" are very much a blueprint of what it will take to realize the aspirations of the Asian Century. Just as the financial crisis of the late 1990s was a wake-up call for the region to put its financial house in order, the global crisis and recession of 2008-09 is a strong signal for Asia to refocus the basic structure of its economic-development model...
...Like its Fox sibling American Idol, it's equal parts laughing at and thrilling with; if it didn't also genuinely, earnestly love its music and its characters, it would become sour and unwatchable quick. Seeing a football team do a choreographed play to Beyoncé's "Single Ladies (Put a Ring on It)" may be funny, but it wouldn't be fun unless the routine was truly awesome. It's Glee's ability to inspire both kinds of glee at once - satiric laughs and unironic pleasure - that makes it such a treat. (See pictures of High School Musical heartthrob...
...people love a good dictator - or at least get over their hatred of one pretty quickly - provided that the dictator doesn't put up too many pictures of himself. We instinctively object to new forms of paternalism, but we also quickly accept them: laws requiring seat belts and motorcycle helmets, forced retirement savings through Social Security, waiting periods for marriage and gun licenses. Though you're not hurting anyone else, you can't commit suicide, have sex with your dog, drink in public, do drugs, be a prostitute, swim at a beach without a lifeguard, eat unpasteurized cheese...