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...whole series of lessons now, like you don't want to create shadow banking systems without enough capital. The idea that we should do nothing about bubbles because of this Greenspan notion that we can never figure out the difference between an asset-price increase that is fundamentally driven vs. one that's a bubble, I think, has been completely discredited. Everyone now says we should act preemptively against bubbles...
...compared to 12 in the relatively well-policed Parisian intra muros. Other cities whose unemployment-racked, racially tense banlieues also lived up to their reputations for frequent car-burning included Strasbourg, Lille, Toulouse and Nantes. Across France, police arrested a total of 288 people on New Year's Eve (vs. 259 the year before) - though not all were charged, and many were apprehended for offenses unrelated to arson. (Read TIME's top 10 crime stories...
Gaming revenue in Clark County, which includes downtown Las Vegas and the Strip, is down 8.5% for the year, to $8.3 billion. But the revenue for October, the last month for which figures are available, is off an ominous 24.3% vs. the same month in 2007. Visitor volume is down 3% over last year, though the city's convention business is holding steady. (Read TIME's Top 10 business deals of the year...
...accessible, while low prices mean wells with high production costs are shut in. The threshold price for oil-operations expansion is around $50 a barrel, according to Combs. "This constant roller coaster [in prices] is something the industry is really getting sick of," Ingham says. (Read "Web-Savvy Homeowners vs. Landmen...
...VS. SCRABBLE vs. SCRABULOUS VS. SPIKE LEE vs. CLINT EASTWOOD VS. PRINCE vs. everyone...