Word: yorking
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...visit to a typical comedy club these days and you're more apt to get pummeled with details of the comedian's dating life than with his views on Obama's stimulus plan. "I'm not hearing a ton of political stuff," says Kevin Flynn, a New York-based stand-up who has a couple of Obama jokes in his repertoire but, like a lot of his colleagues, is still feeling his way along with the change in Administrations. But he doesn't think there's cause for alarm. "The first six months of Bill Clinton - and George Bush...
...outrage, strains to put an edge on his obvious admiration for the President. "He's the first leader in my lifetime who's actually full of hope," Black says in his act. "His nipples are bursting with hope! He's lactating hope!" Talking after a recent set at New York's Gotham Comedy Club, Black admits that Obama is difficult to make fun of but insists he's had no trouble finding political material. "For me, it was never Bush. It was the social issues. Just because Bush left office, that doesn't mean stupidity has fled the country...
...contrast, Goldman Sachs has set aside some $11.36 billion so far in 2009 in total compensation and benefits for its 29,400 employees. That's about on pace with the record payout the firm made in 2007, at the height of the bubble. Thanks to Andrew Cuomo, the New York State attorney general, we know that in 2008, while Goldman earned $2.3 billion for the year, it paid out $4.82 billion in bonuses, giving 953 employees at least $1 million each and 78 executives $5 million or more (although Goldman's top five officers, including Blankfein, declined a bonus...
Goldman's riches have deflected the spotlight from what should be great story fodder: Blankfein's personal journey from one of New York City's poorest neighborhoods to its most élite investment bank - and his astounding rise within Goldman. Instead, he has to explain Goldman's performance - and connections - in the face of the nation's epic financial calamity. (See pictures of TIME's Wall Street covers...
...official discussing a financial crisis with a trusted expert and industry leader. A mention in a call log is not the same as an actual conversation, Blankfein correctly points out. He recalls only a handful of actual conversations with Paulson or Timothy Geithner, then the president of the New York Fed. "Now, that was AIG week," he says, "but it was also breaking the buck on [money-market firm] First Reserve week, and it was the week when Lehman's bankruptcy caused huge problems in the prime brokerage system in London. There were a million things that I would have...