Word: worldly
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Paying a $25 million or $30 million bonus to a Goldman Sachs or JPMorgan Chase or Morgan Stanley higher-up this year is obscene because none of these firms would exist if our government and others hadn't stepped in to save the world financial system. If these companies have all that money around, largely courtesy of us, they ought to send it to the U.S. Treasury. But paying a $250,000 bonus on top of a $150,000 salary to a worker bee is a different story...
...JPMorgan Chase, which were well capitalized and well run, say they didn't really need TARP money in the first place, that's more or less accurate. However, that doesn't mean that Goldman, JPMorgan and every other bank in the country weren't bailed out. Had the world economy melted down and more giant institutions failed, even strong firms like Goldman would have gone under. In July, Goldman acknowledged this, more or less, when it graciously - yes, graciously - paid a full price of $1.1 billion to redeem stock-purchase warrants it gave the government for lending it $10 billion...
...your faith in the Fed or Uncle Sam. During the 1982-2000 stock-market boom and the long economic expansion, people foolishly began to think that government officials like former Fed Chairman Alan Greenspan (formerly the "Maestro" and the man who helped save the world, now Alan Who?) - were looking after their interests. They weren't. Greenspan's job was to protect the world financial system and the economy, not you. Ben Bernanke's job is the same as Greenspan...
...Asian authors—rely on the equivalent of camels for effect, peppering works with spices and ceremonies, arranged marriages and zany in-laws: in short, deploying the stalest, most predictable tropes in the Orientalist handbook. Book reviewers stateside pat themselves on the back for compassing “world literature”; arts supplements splash their fronts with selections of the month like Anita Desai’s “Fasting, Feasting” or Aravind Adiga’s “The White Tiger.” Enthusiastic reception notwithstanding, however, the “local...
...It’s just a toilet, it’s nothing...a lot of people can’t imagine doing things like cleaning toilets, but there are worse things in the world,” he says...