Word: understood
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Part of the president’s decision should be understood as a well-timed political move. The month of January witnessed accumulating reports of multi-million-dollar bonuses, corporate retreats, and profligate spending in corporations either receiving or courting federal bailout money. Then it was confirmed that Wall Street employees had received $18.4 billion in bonuses for 2008, in spite of dismal performance for banks as a whole. Meanwhile, the Obama administration, riding on a wave of high ethical expectations, has faced embarrassing criticism for political appointees accused of tax evasion and misuse of corporate privileges. Between declining consumer...
...Words: Plastic Logic What everyone really wants, of course, is the iPod of e?readers. It was Steve Jobs who first understood the power of a killer device. After he created the iPod and linked it to the iTunes Music Store, people started paying for songs again, and to date, Apple has sold more than 6 billion of them. Jobs duplicated that model with the Apple App Store, which offers more than 15,000 apps for the iPhone and iPod Touch. Might Apple be able to work the same magic for the publishing industry? Jobs once said...
...beginning to wonder if anyone reads basic economics anymore. It has been widely understood for centuries that government does not create wealth; it merely redistributes it. The stimulus plan can be summarized as follows: we are going to borrow a trillion dollars from foreigners and spend it on a mile-long list of pork-barrel projects that we don't immediately need (or else we would have found another way to pay for them) and hope this gets us out of the recession. Stimulus won't solve the fundamental economic problems of this country: decades of low savings coupled with...
...ever before, but as outtakes from “Strawberry Jam,” like “Safer” and “Water Curses,” failed to predict the shift toward “Merriweather Post Pavilion,” it’s understood that Animal Collective are nothing if not unpredictable. For the moment, this piece appears to complete the triptych that began with “Person Pitch,” but the eternal question of what they will do next has become as much a part of the fabric...
Garrity, he said, understood Madoff's impossible returns, but the problem was location: Madoff was not in the New England region. Were jurisdiction not a problem, "he would have had an inspection team inside Madoff's operation the very next day," Markopolos said. Ed Manion, a 15-year SEC-certified financial analyst, also urged Markopolos to continue his investigation. Manion, he said, was the "only one who understood [Madoff's] threat to the public...