Word: standardize
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...stock-loan department, AIG's other disaster, took the cash it got for lending out stock owned by AIG and invested the money in esoteric securities rather than in risk-free Treasuries, the standard practice. The idea was - I'm not kidding - to make an extra one-fifth of 1% in interest. When the esoterica, which the stock-loan folks thought was riskless, crumbled, so did the firm. (See the worst business deals...
...risk $20,000 to $25,000 annually (before taxes) two years ago buying bank CDs or short-term Treasury securities. Now you earn less than $5,000 in an average one-year CD, about $2,000 in a one-year Treasury. This offers retirees unpleasant choices: reduce their standard of living, eat into their principal or take greater risks to restore the lost income. (Watch TIME's video "Uninsured Again...
River Gods' owner, Jackie Linnane, told FlyBy that the pair stayed for over an hour and chatted amicably, but she wouldn't specify what they were served other than an appetizer and beer. The River Gods menu includes everything from standard cheeseburgers to "Korean Handrolls" to "Goddess Salad" topped with arugula, pears, and bacon...
...movie is worlds removed from another making-of concert doc, Madonna's calculatedly scandalous Truth or Dare, and closer to old let's-put-on-a-show musicals like the Busby Berkeley 42nd Street, the Judy Garland-Mickey Rooney Babes in Arms and the Broadway standard A Chorus Line. It has all the elements: the big star (Jackson), the guiding impresario (Ortega) and, supporting them, a whole retinue of gifted, ambitious singers and dancers. The movie opens with the prospective dancers' declarations of the inspirational impact that Jackson has had on them. (O.K., they really need this...
...Levitt has spent his career looking for narrow subjects that lend themselves to empirical testing. His standard line is that he's not smart enough for macro. But he's been smart enough to avoid it - and to win, in 2003, the John Bates Clark Medal, an award for the top under-40 American economist that is often the precursor to a Nobel (no, he's not really a "rogue economist"). His work also caught writer Dubner's attention, which led to the 2003 article in the New York Times Magazine that spawned Freakonomics...