Word: chief
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...necessary as those moves may be, the stock market - the most visible gauge of investor sentiment - has not been convincingly reassured. Why doesn't the news of government's quick and sweeping response stop the slide? "The news has got nothing to do with it," says Jeffrey Saut, chief investment strategist at Raymond James. "What it is, is a sequence of events that have brought us into crash mode." Saut traces that sequence of events from the nationalization of Fannie Mae and Freddie Mac, which wiped out the stockholders of those institutions, to the collapse of Lehman Brothers, which...
...governor of Oruzgan's Chora district, Khan was a former provincial police chief who had acted as Karzai's protector when the Pashtun leader returned from exile in 2001 to rally tribes against the Taliban. His death "has made the tribes angry," says his elder son, Dawood. "They want to stand against the Australians...
...does not believe President Karzai has the power to order them out. In a meeting in Kabul, he says, Karzai offered to continue paying his father's salary every month. The Australian government says it is negotiating to pay compensation to Khan's family. ADF head Air Chief Marshal Angus Houston said, "We deeply regret [Khan's] death. We are working very closely with [Khan's] tribe to ensure that this has no far-reaching negative effects on our operations in the province of Oruzgan...
...keynote speech talked of a new era that demands heavier regulation, an era in which the rich will "be able to look after themselves." That sort of talk sets off alarm bells. "There is a risk that a mood could emerge, an anti-City mood," says Douglas McWilliams, chief executive of London's Centre for Economics and Business Research. "You sense that now with the Labour Party in a rather weak state, there could be a bit of populism that could actually do some damage...
Braced for Pain This isn't the first crisis London has lived through, and it won't be the last. At his Guildhall office, policy chief Fraser talks about his 45 years of experience in the City and says, "You just have to sit it out. It recovers." But he acknowledges that "it's a painful process and we are only at the beginning." The impact won't be felt across the board, either. Barring a financial cataclysm, London will retain its position as Europe's preeminent financial center for players from around the world. Some wealth management may migrate...