Word: fact
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...Administration source says that the stress tests have uncovered the fact that risk controls at major financial institutions, even those that haven't failed, were much too loose. But the most surprising result from the stress tests and related discussions may be this: bankers continue to appear oblivious to the nation's insistence that regulations be put in place to keep banks from ever again putting the economy at such risk. "I just don't think they get it," the official says, referring to bankers' unwillingness to take responsibility for past behavior. "Bankers seem to have no understanding how much...
...better selections than the people whom they replace. In many quarters this is considered a sort of governance recidivism. But, that does not mean that the argument is entirely flawed. Pandit, Thain and Willumstad did not do any better than their predecessors. As a matter of fact, they probably did much worse. They were given the specific tasks of ferreting out problems in the companies which they were picked to operate and fix them. Each one expressed optimism about accomplishing their goals only to face the need for government intervention to prevent collapse. Not one of the three simply acknowledged...
...exciting. "We were shut away from the world and each other for so long. But now we are getting to know each other. Now we are telling our own stories," he says. "This is not just about making movies. This is about our changing political landscape, our democracy, the fact that anyone can say anything now. This is about shaping a nation...
Change is long overdue. "Who can possibly justify the fact that Belgium has a substantially larger quota than India, Brazil or Mexico?" asks Ariel Buira, of the Mexican Council for International Affairs. The IMF's legions of critics even include other international agencies. Malcolm Knight, a former general manager of the Bank for International Settlements - a sort of club for central bankers - recently blasted the IMF in an article that described its performance as "less than evenhanded or effective," and accused it of being asleep at the wheel in the months before the current economic turmoil. "The IMF was uncharacteristically...
...historians find the story entirely plausible. Hans-Hermann Hertle from the Potsdam-based Center for Research on Contemporary History tells TIME that he had "already wondered about that 15 years ago." Hertle cites the fact that an American reporter present at the press conference, when attempting to speak, was cut short by Schabowski, who then allowed the Italian journalist to ask his question first, as an indication that Ehrmann's question had been prompted by the party. But neither Ehrmann, Potschke nor Schabowski confirmed Hertle's suspicion back then...