Word: system
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...this intervention be flawlessly executed? Of course not. But if ham-handed pay rules drive risky, highly rewarded activities out of big banks and into smaller firms - if big banks become boring again - that might not be all bad, since smaller firms presumably pose less risk to the financial system...
Still, so far H1N1/09 hasn't proved a serious killer. But as the U.S. prepares for an uptick in infections this fall, even a mild pandemic could overload a clogged health-care system. And there's no guarantee the virus won't get worse--the Spanish flu was relatively light in the spring of 1918, only to turn lethal that autumn. U.S. health officials said on July 29 that they hope to have 120 million doses of a new H1N1/09 vaccine ready by October, but the virus could change by then, or the vaccine might prove less than effective. Virologists...
...financial crisis came about because we got complacent, depending on all-knowing financial experts - mortgage lenders, Wall Street sharpers, the Federal Reserve - to run our system expertly. But then the experts did the same thing, imagining that they had laid off all their risks on other experts. Until finally the last expert down the line turned out to be just another greater fool, and the system crashed...
...still need experts. But we can no longer abdicate judgment to them or to the system they've cobbled together. This country, after all, was created by passionately engaged amateurs. The American spirit really is the amateur spirit. The great mass of European settlers were amateur explorers, and their grandchildren and great-grandchildren who created the U.S. were amateur politicians. "I see democracy," the late historian Daniel Boorstin wrote, as "government by amateurs, as a way of confessing the limits of our knowledge." In the early 19th century, Alexis de Tocqueville approvingly noted the absence of "public careers" in America...
...legend, the Clinton campaign turned out to be a world filled with destructive internal conflicts, a place of tensions and enmities." We already knew Hillary Clinton ran a weak campaign organization - its top officials managed money poorly and apparently didn't grasp the intricacies of the primary caucus system until it was too late. But the book sheds new light on just how flawed and, in James Carville's term, "joyless" the team was. Balz and Johnson reveal that Clinton grew furious at her (soon-to-be-ousted) campaign manager Patti Solis Doyle after the Iowa caucuses when she seemed...