Word: welling
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Dates: during 2000-2009
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...Well, yeah, except that Goldman and JPMorgan played right along with many of the Wall Street practices that led to the crisis. They fought regulation - of derivatives, for instance - that might have prevented it. And their big profits can be traced not only to skill but also to the government's decision last fall to bail out the financial sector just as the troubles that toppled Lehman Brothers and WaMu and forced Bear Stearns, Merrill Lynch and Wachovia into shotgun marriages began to endanger Goldman and (to a lesser extent) JPMorgan. "No one should be confused about the extent...
...prototype of the four-door sedan that has been making the rounds at auto shows this summer is shorter and sleeker than the company's flagship Phantom limousine, making it "slightly more agile" and better for daily use, says Rolls-Royce CEO Tom Purves. It's more affordable as well, priced at just $245,000, far below the $380,000 baseline price tag for the Phantom. (See 10 things to buy during the recession...
...Ghost has been in the works for several years, well before the global economic meltdown. But the timing of the car's rollout this fall couldn't be better for the automaker. Although Rolls-Royce had a banner year in 2008, selling a record 1,212 Phantoms worldwide, the company has taken a substantial hit this year. Sales of the Phantom tanked by more than 34% in the first six months of 2009 as the superrich started to put the kibosh on their conspicuous consumption...
...have been brought to heel by a vastly more powerful Kremlin. Their wealth is "granted" to them by a Kremlin that demands loyalty and is prepared to use all means available to enforce it. They serve the Czar (or President, or Prime Minister) at his pleasure. They understand very well that to defy the Czar is to sacrifice everything they have. They are glorified managers or subordinates who enjoy great wealth that can be taken from them at any minute, and the only way they know to secure their fortunes is to endear themselves to the state - to become cheerleaders...
...that allowing a pressure valve of dissent and allowing certain voices out there is important for legitimacy," says Robert Amsterdam, a Canadian attorney in London who has represented Khodorkovsky and frequently blogs about Russia. "In a strange way, and whether or not Lebedev is part of this, he may well be seen as a demonstration of the regime's legitimacy." As long as he doesn't "cross any of these invisible lines, Lebedev may actually shield the Kremlin from further criticism," Amsterdam says...