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...sure that the taxpayers received preferred shares in the firms in exchange for the capital. After Paulson retired the new administration began testing the banks, knowing that, based on the criteria they had set, many of the firms would fail. The credit markets are harsh. The troubled banks would find it nearly impossible to raise capital from private equity sources. They would turn to the government. The government would convert its preferred shares to common shares to buttress the bank balance sheets. Suddenly, the taxpayers would own controlling interests in many of the largest financial firms in the world...
Editorial cartoonists shouldn’t have to hide behind pseudonyms. If the editorial board can’t find cartoonists who can manage intelligent (and non-sexist) humor--and who are willing to publicly back their work--maybe it’s time to re-run old Sock Full of Quarters strips...
...game park: tour guides working in the land of their fathers. Though the vast stretch of savanna lies in territory owned by the Masai, until a few years ago the red-robed pastoralists made up less than 20% of those employed in its camps and lodges. Those who could find work did so mostly as low-paid camp guards. Yet there's a growing realization that the Masai and the 590-square-mile (1,530 sq km) national reserve share a common future. The tribe's fortunes will most likely be found in the tourists who provide Kenya with...
Book well in advance, because the gazebo is a favorite rendezvous for members of Bangkok's high society, and Agalico is only open Friday through Sunday. The place is a bit hard to find - there's no sign - but having to enter through the side entrance of an unassuming commercial building gives your arrival an Alice in Wonderland quality. And if there's no white rabbit, the white Persian cat that strolls the garden is an acceptable substitute. Diners who like the furniture can have reproductions made by the owner, who also runs a design and landscaping firm. There...
...Pakistani government and step up assistance to the Pakistani military in the fight against the Taliban and al-Qaeda. But many on the Hill worry that the money will be misspent and want to attach strict conditions and benchmarks to the aid, some of which any Pakistani government might find difficult to meet...