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...Wells Fargo Loan losses: When Wells Fargo acquired Wachovia late last year, it more than doubled its loan book. In good times, that would be a major coup. These days, it's major trouble. Home buyers owe the bank $360 billion, up from about $150 billion just three months ago. Next, Wells has $154 billion in commercial real estate loans, as well as $200 billion in other types of commercial debt. Apply Roubini's overall 13% loss projection, and the conclusion is that Wells may be sitting on a $117 billion loss...
...lesser reporter than Steavenson (a former TIME colleague) would have found the task of building a story around an absent protagonist too daunting. The book examines the darkness at the heart of Saddam's Iraq: the ever-present fear and the collaboration with evil it engendered...
...also an untimely one: five years later, in 2003, journalist Wendell Steavenson arrived in Iraq to "learn more about the locked-in years of Saddam's regime" and chose Sachet as the prism through which those years might best be refracted. In the resulting book, The Weight of a Mustard Seed (the title is a quote from the Koran), she tries to understand why Iraqis who deplored what was happening to their country became Saddam's accomplices. "How," she asks, "do ordinary little human cogs make up a torture machine...
Grann's journey, shadowing Fawcett's, is actually the least interesting part of the book. (For a livelier account of an innocent's adventures in the jungle, look up Redmond O'Hanlon's classic Into the Heart of Borneo.) You never quite get a fix on what Fawcett means to Grann, and you find yourself wishing, uncharitably, that he would narrowly escape death a little more often. What keeps you going is the backstory. The theory that the Amazon basin conceals the capital of an advanced civilization has a long history--it's one of those ideas that's just...
...based on one’s dignity of birth and hierarchy of parentage rather than merit. In his autobiography, Adams wrote about his intellectual growth at Harvard, which came at the expense of more leisurely and amorous pursuits: “I perceived a growing Curiosity, a Love of Books and a fondness for Study, which dissipated all my inclination for Sports, and even the Society of the Ladies.”Following closely in his father’s footsteps, John Quincy Adams, class of 1788, was similarly academically occupied during his time in Cambridge...