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...This latest go-round featured hedge-fund operators, leveraged-buyout boys (who took to calling themselves "private-equity firms") and whiz-kid quants who devised and plugged in those new financial instruments, creating a financial Frankenstein the likes of which we had never seen. Great new fortunes were made, and with them came great new hubris. The newly minted masters of the universe even had the nerve to defend their ridiculous income tax break - much of the private-equity managers' piece of their investors' profits is taxed at the 15% capital-gains rate rather than at the normal top federal...
...frontrunner in Kadima, according to the latest Haaretz-Channel 10 polls, is Foreign Minister Tzipi Livni with 47% of the party vote. Her nearest rival, the more hawkish Transportation Minister Shaul Mofaz has only 28% according to the poll. (To win the party leadership in the first-round primary, the top candidate must win at least 40% of the vote...
Indeed, Thailand's latest political crisis, which has driven away foreign tourists and caused the country's stock market to swoon, is looking ever more intractable. Samak was kicked out of power in an unlikely fashion. Last week, the Constitutional Court determined that he had contravened the national charter by accepting compensation for a second job while serving as Prime Minister. The job? Hosting a few episodes of a T.V. cooking show. The payment? $2,300. Although the court ordered Samak to step down, there was nothing stopping his People Power Party (PPP) from re-nominating him as Prime Minister...
...While moves towards dialogue and compromise on the sharing of energy-export revenues between the central government and the regions may be in the works, the wounds opened by the latest upsurge in violence will not easily be healed. On the question of the autonomy demanded by the regions, thus far no middle ground appears to have opened up. And neither side appears willing to back down...
...reader looking for nuggets of gossip about America's latest political rock star won't be disappointed. We learn that Sarah shot her first rabbit at age ten; that she shared a room with her two sisters that "was unheated except for a wood stove"; and that one Halloween, she dressed as a pregnant Jane Fonda. But there is also plenty to pore over about Palin as an Alaskan politico, including an analysis of her controversial decision, soon after becoming mayor of Wasilla, to fire all of its incumbent municipal department heads. In fact, the author includes so much about...