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...fueled by quarters of good M&A and corporate finance results. Citi's numbers beat forecasts but revisionists began to take apart the earnings after the fact. An analyst from Goldman Sachs wrote that the big bank's credit losses are growing at a "rapid rate," meaning the shares remain a "sell." When Bank of America (BAC) released quarterly numbers that were so good that many believed they would save the job of CEO Ken Lewis, JP Morgan responded by releasing an analysis that said banks are likely to realize about $400 billion more in losses on soured assets, requiring...
Still, concerns remain that the new grading policy may not achieve its stated goal of tempering the grade-focused culture at the law school...
...brimming with energy for no explicable reason. They will arrive, seeking pleasure on a Saturday night, and might even take sherry to the point of wooziness: for shame! They will then slur their speech and stumble about in an unrefined manner. An utter disgrace to this university! These troublemakers remain out until all hours of the night (I have seen them frolicking about past the 9 o’clock hour), when all decent individuals have long since retired for the evening. They speak in vulgarities, spewing phrases like “gosh darn it?...
...they should be exempt from rebuke. According to The Wall Street Journal, many credit-rating agencies intend to use the constitutional right to free speech as a defense against upcoming litigation cases. While this may be juridical truth, and a clever defense, conflicts of interest and careless behavior will remain even under the old, investor-paid model. All the regulators can do is continue to effectively cooperate with rating agencies, working to create a better—albeit imperfect—system...
Since then, however, the civil-liberties community has started to wonder if its celebration was premature. Though most still remain cautiously optimistic about the White House's leanings, they have watched with concern as the Obama Administration has filed papers in several court cases suggesting that it will side with the Bush Administration on key issues dealing with terror detainees, warrantless wiretapping and national security secrets. (Read "Taking the Bush Anti-Terror Legacy to Court...