Word: seniorities
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...racial angle has also provided good fodder for African-American comics like Kyle Grooms (who does one of the better Obama impressions) and Larry Wilmore, the Daily Show's "senior black correspondent," who also talks about Obama in his stand-up act. Yet Wilmore's jabs are directed, as usual, mostly at the country's reaction to Obama ("that is a very comfortable level of black") rather than the President himself; the worst he can do is lampoon Obama's habit of giving long-winded answers to even simple questions...
...risk-taking business. Goldman has a tradition of taking trading risks. In the postwar era, the firm's DNA has always combined the interlocking strands represented by two of the world's foremost risk arbitrageurs - first Gus Levy and later Robert Rubin - with the investment-banker pedigree of former senior partners, including Sidney Weinberg, John Weinberg, John Whitehead, Stephen Friedman and Paulson. "We would never let our reputation as the key M&A adviser ebb in favor of being a principal," Blankfein says. "We're very self-conscious that our franchise hinges on our client relationships and the business that...
...derivative-driven innovations and massive leverage, Blankfein is the firm's chief advocate for taking risks but also its chief risk watchdog. He has a far different perspective from that of most of the previous Goldman bosses. In December 2006, Viniar led a meeting of senior Goldman executives to examine ongoing daily losses in the firm's mortgage portfolio. Goldman had already underwritten and sold billions of dollars' worth of mortgage-backed securities, much of it labeled investment grade by ratings agencies. It was, in fact, junk. But Goldman realized earlier than most that rot was setting in and famously...
Blankfein's deftness under pressure impressed his partners. "He is a totally independent-minded guy," says another senior Goldman official. "Ten years ago, I think most people would have said that it is highly unlikely that Lloyd would be CEO and highly unlikely that he would succeed. But he has done both, and it seems like a dream in this environment ... It's a bit of a miracle. It was unpredicted...
...budget cuts, three LSC employees have been laid off—an attorney, a receptionist, and a managing attorney who did not work directly with students and clients. According to London, LSC previously had 25 employees, nine of whom have been moved to Cambridge.Robert Greenwald, a senior LSC clinical instructor who will be serving as the Center’s managing attorney this year, emphasized that the Jamaica Plain clinics are committed to providing legal services to the community, despite the cuts. But he also said that while administrators “did their best to minimize the impact...