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Another proximate cause were new loosey-goosey borrowing rules (if they can be called that) that allowed the likes of Bear Stearns and Lehman to pile $30 of debt onto each $1 of capital. The chief executives of these firms argued vociferously for the right to greater leverage and vociferously against regulating derivatives because, they claimed, unfettered markets were more efficient. Yes, it was the unfettered use of leverage and derivatives that destroyed their companies and wreaked havoc on the rest...
What's at Stake: Hold onto your wallets, people: an overweight-bag charge...
Suddenly, a courageous soul climbed onto the two-step ladder and called to the crowd. Finally, a leader! And real chanting! By the second speech, enthusiasm was mounting. Even we could feel it. These people were getting their act together...
...Church in the U.S.) who are angry at its policy of allowing women and gay priests and bishops, and perhaps attracted by the liturgical and historical links with Catholicism, Benedict's official door-opening is an unexpected godsend that might just allow for the best of both worlds: hanging onto their Anglican culture and parish life while moving under the doctrinally rigid umbrella of Roman orthodoxy...
...semblance of ancestral pride, I was plenty peeved about the astounding screwing the Irish soccer team received this week during their World Cup qualifying match against France, when French "superstar" (and 2005 TIME European hero) Thierry Henry illegally used his left hand to corral a ball before passing it onto a teammate for the goal that sent France to the World Cup, and the underdog Irishmen home...