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Before the collapse of the U.S. financial system in 2008, Brad Katsuyama could tell himself that he bore no responsibility for that system. He worked for the Royal Bank of Canada, for a start.
RBC might have been the fifth-biggest bank in North America, by some measures, but it was on nobody’s mental map of Wall Street. It was stable and relatively virtuous and soon to be known for having resisted the temptation to make bad subprime loans to Americans or peddle them to ignorant investors.
But its management didn’t understand just what an afterthought the bank was — on the rare occasions American financiers thought about it at all.
Katsuyama’s bosses sent him to New York from Toronto in 2002, when he was 23, as part of a “big push” for the bank to become a player on Wall Street.
The sad truth was that hardly anyone noticed it. “The people in Canada are always saying, ‘We’re paying too much for people in the United States,’ ” Katsuyama says. “What they don’t realize is that the reason you have to pay them too much is that no one wants to work for RBC. RBC is a nobody.”
Classic web interactive (click through and they’ll all start moving)
NASA’s Kepler mission has discovered more than 190 confirmed planets orbiting distant stars. Planets with a known size and orbit are shown below, including Kepler 78b, which has an Earthlike composition.
We could’ve used this when we were in high school.
Somebody stole your tumblr’s New York Times this morning! Isn’t that punishable by death here in New York City?
UPDATE: CRISIS AVERTED. RESUME TO NORMAL ACTIVITIES.
New York Times hacked?
OH NO, WHERE ARE WE GOING TO GET OUR NEWS ABOUT THE LATEST TRENDS IN BROOKLYN?!?!?
IS THE WORLD ENDING?!
Tomorrow’s NYT. (via)
Audience member at Columbia Journalism School to Arthur Sulzberger, New York Times publisher: “How will low-income residents now access The Times at home?”
Sulzberger: “Just translate that question to print. How will low-income people get access to The New York Times in print?”