Word: problem
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Gramm, who before he got into politics was an economics professor at Texas A&M, took to the task with relish. He was dismissive of the charge that Glass-Steagall repeal has been a big problem. "Europe never had Glass-Steagall," he said. "So why didn't this happen in Europe rather than here?" On derivatives he was a bit more nuanced: All he and the Clinton Administration were trying to do with the 2000 bill, he claimed, was establish that interest-rate and currency swaps - two relatively uncontroversial forms of over-the-counter derivatives - couldn't be regulated...
...slightly defensive as they protected the role of science in their kitchens. Brandishing a loaf of bread like an amulet, Adrià, chef of el Bulli restaurant in Spain (judged the best restaurant in the world a record four times by Restaurant magazine), located the root of the problem in a kind of public ignorance. "Today, you've got bakers working to find the best flour, the best yeast, the best oven. This is science, pure and simple. But people still say they're shocked if science participates in cooking...
...when it comes to persuading foreigners (whether governments or individuals) to continue to invest in Treasuries. Sources close to the Administration say that thus far he has argued privately that "what the world wants to know, first, is that we are going to fix this [economic and financial] problem and make people confident in the quality of the stewardship of the economy." The world also wants to know, one source close to Geithner says, "that we are going to make sure the U.S. will grow over time and that we will continue to be open to the world for trade...
...quite the provocative statement it once was - and the gaps in the armor are showing. USCAP's recommendations have recently come under attack from a number of outside environmental groups, and the National Wildlife Federation even dropped out of the alliance rather than endorse the blueprint. The problem is that USCAP would allow industry to pay for offsets of around 2 billion metric tons of CO2 a year, to ensure that business has plenty of time to make the transition to a low-carbon economy. (Offsets are projects in which companies pay to reduce carbon emissions more cheaply elsewhere, often...
...silver lining of this massive brown cloud is that a boost in those technologies could decrease soot emissions - fast. "We can't fix every environmental problem, but we can make a huge and immediate change by reducing black carbon," says Veerabhadran Ramanathan, Director of the Center for Clouds, Chemistry & Climate at the University of California at San Diego. (Black carbon manifests as soot particles that comprise brown clouds.) While carbon dioxide levels in the atmosphere respond on a sluggish 100-year timescale to reductions in emissions, soot particles, whose effects are equivalent to roughly half the warming damage that carbon...