Word: washington
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Dates: during 2000-2009
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...slow recovery from near failure and mortal embarrassment after the 1929 stock-market crash. (An investment fund it launched was one of the era's biggest disasters.) Goldmanites had no choice but to stick together and look to the long run. The firm's now pilloried entwinement with Washington (some call it Government Sachs) began in those days too, after managing partner Sidney Weinberg made the rare-for-Wall Street move of backing Franklin Roosevelt in 1932. That led to a key role for Weinberg in the World War II industrial-mobilization effort, where he got to know top executives...
...even longer and more storied history. It's a direct descendant of the House of Morgan that dominated Wall Street a century ago. But it's also an agglomeration of Chase Manhattan, Chemical Bank, Manufacturers Hanover, First Chicago, National Bank of Detroit, Bank One, Bear Stearns and Washington Mutual, among others, and this mishmash has only come together as a coherent whole since renowned details guy Jamie Dimon took over as CEO in 2005. "The teamwork culture at JPMorgan Chase is really Jamie Dimon," Ellis says...
...sweet-souled doofus of the second tier, Simon is invited to attend to top-secret conferences, but not to give opinions, only as an extra body - "room meat." And he's so fearful of scandal that, if left alone at night in a hotel room on a trip to Washington, he'd be "trying to spank one out over a shark documentary, 'cause I'm scared if I watch a porno it'll end up in the Register of Members, Interests." (See TIME's top 10 expensive military planes...
...Brit politicians, scorn are the Americans, whom they hold in contempt curdled with envy, as in: We passed the running-of-the-world baton to these people? Simon's chief aide Judy (Lina Mckee), seeing baby-faced college grads in high positions, notes that "They're all kids in Washington. It's like Bugsy Malone, but with real guns." Malcolm is less subtle. Recalling Britain's vanished might, Malcolm tells one of the American brats, "We burnt this tight-assed city to the ground in 1814, and I'm all for doin' it again...
...Moscow's idea of what influence means may well be different from Washington's. Nations should be allowed to choose their partners, Russian Foreign Ministry spokesman Andrei Nesterenko said, but "it is important that this be done transparently, without under-the-carpet games and not at the expense of others' interests." United Russia's Markov said Russia does not want a sphere of influence, but that historically, Russia has a "privileged interest" in Georgia and Ukraine and that in order for U.S.-Russian relations to be reset, "the U.S. has to recognize Russia's legitimate interests - that Russia...