Consider also the history of corporate leverage. Equities are riskier because bond interest is paid first. If equities grew faster, however, leverage would constantly decline. That is not what we see. This inferred concentration of risk premium in cash flow rate is convenient f...
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Historic energy sector liberalization Partial privatization of energy sector assets could represent one of the cornerstones of the ambitious medium-term diversification strategy, and, if confirmed, serve as a highly visible and historic milestone. Such privatizations could ease...
consensus rather than supports one school over another. | think it is the consensus view, as well as Keynes’, that his “attempted saving” means gross saving (gross income less consumption) not invested in new productive assets. That can be written as Keynesian attempted saving...
/ BARAK / 2 cabinet meeting the day before, by reviving an idea I’d supported under Rabin: to build a security fence all along the edge of the West Bank, with a series of controlled crossing points for people and goods. Yitzhak had said no at the time, because he was worried it...
…y wrong for Begin’s government to order a pre-emptive military operation with the aim of ending it. My view, as an army officer, was that the decision on how, when and whether to go to war was for our elected government. But for that principle to work, I also believed that govern...
…as damage control while its adversaries took full advantage of the setback. Several hundred US and British intelligence officers worked around the clock in Washington DC, Fort Meade, Maryland and Cheltenham, England for months on end to determine if which parts could be still sal...
prescription drug costs during the temporary “gap” from Medicare coverage until their prescription drug costs reach the threshold for catastrophic coverage by Medicare), (iii) an approval process for generic biologics and granting exclusive marketing rights to original manufactur...
160 | HOW AMERICA LOST ITS SECRETS surveillance, as the CIA deputy director later revealed. Such moves could indicate that at least part of the U.S. communications intel- ligence that Snowden had stolen was in enemy hands. The CIA and NSA’s monitoring of these countermeasures wa...
company may experience significant adverse effects, which in turn could negatively affect the performance of the Fund. Moreover, the current regulatory framework may change or additional regulations may arise at any stage during the product development phase of a portfolio compan...
Freedom House Eastern Europe, and military dictatorships elsewhere, there was an explosion of newspapers, radio and television stations, and other independent media with diverse editorial policies. But the internet in particular was seen as an irresistible force that could rende...
returns, and might be liable for U.S. tax in excess of the amount collected by withholding. Similarly, Non-U.S. Partners could become subject to U.S. federal income tax and tax return filing obligations, as a result of transfers of their Limited Partner Interests at a time when t...
OUP CORRECTED PROOE - FINAL, 10/9/2014, SPi The Crooked Course Xxxi government. In the following days, I flew to Israel to convey the request to Yossi Beilin, then Deputy Foreign Minister. Shortly afterwards, Foreign Minister Shimon Peres dispatched the Director General of the...
enrichment. And yet Iran also chose to convert some of its stockpile of highly enriched uranium for medical use rather than approach the amount needed for a bomb, leading Israeli authorities to predict that Iran wouldn't be able to build a bomb before 2015 or 2016. Last week, Ali...
185 adversary services, which also had the home court advantage, from stepping in. He also gave adversaries an ample, if not wholly irresistible reason, to enter the game by saying that he had access to NSA’s sources in China. How could they resist such a prize? As confidant a...
BREAKING DOWN DEMOCRACY: Goals, Strategies, and Methods of Modern Authoritarians Beijing has revived the practice of coerced pub- lic “confessions” and escalated its surveillance of the Tibetan and Uighur minorities to totalitar- ian levels; and Azerbaijan has made the Aliyev fa...