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Hidden by the big bottom-line losses are a number of Citi businesses that seem to be doing well. Along with mergers and acquisitions, analysts point to Citi's foreign-currency trading divisions and its business of processing payments and moving money around the world as two other bright spots. Earlier this month, Citi CEO Vikram Pandit said his bank was profitable in the first two months of the year. "M&A alone is not a big enough businesses to swing the bank," says analyst Richard Bove, who follows bank stocks at Rochdale Securities. "But put them all together, along...
...scandals. But nothing is crazier than the fact that every two years, the Senate must break from trillion-dollar bailouts and Iraq-war allocations so that everyone who wants to can switch offices. Each office is allotted by seniority, which is calculated according to a formula that involves number of years in the Senate, previous federal jobs, the size of your state and eight other factors. Obviously, Robert Byrd has the best office, since he's served the longest. Still, when it's time to move, Byrd gets a day to check out any new office he might want. Then...
...perils of negative thinking (as well as the power of positive psychology), and the latest findings confirm that a pessimistic outlook not only kindles anxiety, which can put people at risk for chronic mental illnesses like depression, but may also cause early death and set people up for a number of physical ailments, ranging from the common cold to heart disease and immune disorders.(Read more on TIME's Wellness blog...
...ordered an assessment of his new district's 104,000 students. The findings were grim: nearly a third had been held back at least one academic year. The high school graduation rate had fallen to 67%. One in five dropped out. But what most concerned him was that the number of students considered "highly mobile," meaning they had moved at least once during the school year, had ballooned to 34,000, partly because of the home-foreclosure crisis. At least 1,500 students were homeless--probably more. "I had a whole array of students who were angry, depressed, not getting...
...fall of 2007. From the beginning of the '80s through 2007, the share of disposable income that each household spent servicing its mortgage and consumer debt increased 35%. Back in 1982, the average household saved 11% of its disposable income. By 2007 that number was less than 1%. (See TIME's top 25 people to blame for the financial crisis...