Word: standardize
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...business spending and keep people employed. But Biden's team knew that it's just as important to maintain public confidence in the enterprise, especially in an age of $500 million helicopters and Bridges to Nowhere. At the White House, this worry translated into a simple if fuzzy standard for deciding which projects pass muster: prudence. "It's like pornography," says Edward DeSeve, the senior adviser to the President for recovery and reinvestment. "You know prudence when...
...amazed by the double standard being used for Sotomayor. George W. Bush suspends constitutional rights to catch terrorists and is labeled evil and un-American. Sotomayor suspends constitutional rights to catch sex offenders and is said to be "empathetic" to the problems of police officers. Is it acceptable or unacceptable to ignore constitutional rights? Bryan Smith, Tucson, Ariz...
...been with Standard Chartered. Though headquartered in London, most of StanChart's operations are centered in the emerging markets of Asia, the Middle East and Africa - and as a result, it has not only weathered the crisis but continued to prosper. Last year, during the height of the economic storm, the bank's pretax profits surged 19%, while assets increased 32% to $435 billion. This was no fluke: StanChart in early May said it achieved record profits in the first quarter of 2009, and its London-listed shares have doubled since March. Such a stellar performance during the worst recession...
...previous year. Even though some Asian economies, chiefly China and India, appear to have passed through the worst of the downturn, analysts still doubt StanChart can repeat 2008's performance this year. Brokerage CLSA predicts pretax profit growth will slow to 4% in 2009. Reflecting the heightened risk, Standard & Poor's in late April revised its outlook for the bank to negative. "The biggest single worry is the economies in the region," says Nick Hill, bank credit analyst at Standard & Poor's in London. "We think they've taken measures to pull in their horns...
...major problem that led to the crisis was that financial institutions--especially the largest, most complex and important ones--weren't held to a high enough standard. In boom times, that problem wasn't visible, but those firms turned out not to have the capital and liquidity cushions they needed in times of true stress. Our plan fixes that too. There are a whole range of areas--from consumer protection to the establishment of a coordinating council of regulators--where our plan puts in place measures that would have made it more unlikely for things...