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...released with a touch-sensitive area to turn on the computer, eschewing the power button. The latest MacBook laptops remove buttons from the trackpad entirely; users click either with a tap of the finger or by pressing the entire trackpad down. The first iPod had five buttons; the current iPod Touch and iPhone have just two. Apple's even expanding the battlefield to its stores - the elevator in the Tokyo Apple Store has no buttons; it simply stops on every floor...
...losses centered on AIG FP, which until March 2008 was led by its high-rolling president, Joseph Cassano, a tough-talking Brooklyn, N.Y., native who in the past eight years banked $280 million in cash compensation, or exactly $115 million more than the bonuses at the center of the current controversy. Cassano, who helped found the AIG FP unit in 1987, built his money machine not on anything fraudulent but on what's been described as regulatory arbitrage. As Bernanke explained recently, "AIG exploited a huge gap in the regulatory system. There was no oversight of the Financial Products division...
...note - and not favorably - the almost uncanny influence of former Goldman executives. Initial phases of the rescue were orchestrated by ex-Goldman chairman Hank Paulson, who was recruited as Treasury Secretary in part by former White House chief of staff and Goldman senior exec Josh Bolten. Goldman's current boss, Lloyd Blankfein, was invited to participate in meetings with the Fed. AIG's Liddy is a former Goldman director and an ex-CEO of Allstate. Another alum, Mark Patterson, once a Goldman lobbyist, serves as chief of staff at the Treasury, while Neel Kashkari, who runs TARP, was a Goldman...
...company befriended politicians with campaign cash - $9.3 million divided evenly between Democrats and Republicans from 1990 to 2008, the Center for Responsive Politics reported. And it spent more than $70 million to lobby them over the past decade, escaping the kind of regulation that might have prevented the current crisis...
...fact that AIG was in Washington long before the current Administration hasn't spared the Obama team from criticism over the recent bonus payouts. The main target for the opprobrium is Geithner. He still enjoys the confidence of U.S. allies abroad and understands the deeply complicated world of global finance far better than the lawmakers who may soon write new legislation to regulate it. But he has not been a strong public face for a government that needs to project confidence. He has been slow to staff his department, hampering the Administration's ability to react to the crisis...