Word: seniorities
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While the doctrinal stance breaks no new ground, the question now, like in March, is a matter of emphasis. Why, months after the difficult issue had largely faded from view, did the Pope feel compelled to return to a case that could leave the church looking coldhearted? A senior Vatican official says the Pope was forced to back up the Brazilian bishop. "[Sobrinho] was furious," says the official. "There was the impression that the local bishop had been subjected to immediate scrutiny by the Holy...
...were a Wall Street firm, I would perhaps be cognizant of the fact that the financial regulatory-reform process is only beginning in Congress," warns a senior White House official, speaking about the political problems that huge paydays at Wall Street firms could create later this year, when new laws to regulate the industry will be written on Capitol Hill. Officials have also begun to worry aloud whether the Wall Street firms learned anything from the catastrophic financial crisis that was largely of their making or whether they are now returning to the old business of making short-term profits...
...President has thus far resisted calls for a heavy government hand in limiting financial paydays, aside from certain limits on senior executives at firms that have not paid back some taxpayer funds and a number of proposals for regulators to develop new ways of better tying compensation to long-term risks. That leaves the White House vulnerable in the coming months. If Wall Street decides to cash in on its recent winnings despite the public rhetoric of the Administration, the contrast with the nation's still growing unemployment rate couldn't be starker. "It's just got to feel wrong...
...also in Bali. Since then, Indonesia has been pretty safe. With the help of American and Australian counterterrorism experts, and the support of the public, the government of President Susilo Bambang Yudhoyono has rounded up hundreds of militants since he took office in 2004, and killed in shootouts many senior militants. However, Noordin Top, one of the masterminds of the first Bali bombings in 2002, remains at large. (See pictures of Bali reeling from destruction and mourning loss...
...crackdown on corruption launched by Chinese authorities in one of the country's most important industries. Domestic media reported this week that at least five Chinese steelmakers and the China Iron and Steel Association are under investigation, and the scope of the inquiry is expected to widen. A senior investment banker with close ties to the Australian mining industry says that eight to 10 Chinese steel executives have been detained, adding that the relationship between Australian ore producers and the Chinese steel industry is now in "utter chaos...