Word: scandalizing
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...Huffington, it was as if her whole life, with its mix of accomplishment and weird scandal, had been practice for working in a medium in which everything is interesting and nothing is durable. Educated at Cambridge University, she launched herself in the U.S. on the back of a book about Maria Callas (her third of 12) and a few key friends. Pretty soon, almost virally, she knew everybody, was marrying an oil millionaire (with Barbara Walters for a bridesmaid) and stumping for the Republicans. Almost as fast, she was divorcing said millionaire, who turned out to be bisexual, and becoming...
...bankrupt the planet. Founded 90 years ago in Shanghai, AIG moved its headquarters to New York City as the world headed toward war in 1939. After Maurice R. (Hank) Greenberg took over in 1967, AIG consolidated its global empire. By the time Greenberg was forced out in an accounting scandal 38 years later, AIG had become one of the world's biggest public companies, with sales of $113 billion in 2006 and 116,000 employees in 130 countries, from France to China...
...Bailing Out the Bailed Out Keeping the financial system fluid might explain why so many banks got paid in full, which strikes some as a scandal way bigger than the bonus payouts. Many experts wondered why AIG paid 100 cents on the dollar. Among the biggest beneficiaries of the AIG pass-through, at $12.9 billion, was Goldman Sachs, the investment-banking house that has been the single largest supplier of financial talent to the government. Critics have been quick to note - and not favorably - the almost uncanny influence of former Goldman executives. Initial phases of the rescue were orchestrated...
...rethink the financial system's rules - but, inevitably, that is a slow and painstaking task. London needs to serve up some quicker fixes. One suggestion: an immediate ban on opaque off-balance-sheet "special purpose vehicles," which played such a big role in the meltdown (and in the Enron scandal). Another: the establishment of a G20 College of Supervisors, the beginning of a world regulatory body to oversee financial markets, coordinate national responses and troubleshoot crises at cross-border financial institutions. Europe is moving in this direction; others should join...
...morning, Olmert left his residence to share the results of the Cairo negotiations with his cabinet. If there is an eventual deal, the cabinet may then vote on whether Israel should agree to Hamas terms' for a prisoner exchange. It will be Olmert's last chance to redeem his scandal-ridden tenure as Prime Minister. And like a shadow - or a guilty conscience - Noam Shalit will leave his tent and follow Olmert to his office. There, Shalit will take up a position on a wooded hill across from the Premier's window to remind Olmert that, above politics...