More than money, Mr. Bloomberg spent his political capital pushing the proposal.
And if something as fragile as taste is implicated, if the onrush of capital pushes performers, styles, genres into the margins -- well, that's just too bad.
Each spent his first wad of political capital pushing a large tax cut -- even as oceans of red ink rose around him.
Instead, more than 100,000 people poured into the streets of the capital, pushing back for hours against battalions of riot police, until the police all but abandoned the city.
In recent weeks, thousands of other peasants have taken their struggles to the streets, even to the nation's capital, pushing parts of the agricultural industry to the brink of civil unrest.
But to the extent that a kind of centrist conventional wisdom coalesces following an Obama defeat, though, I suspect that it will be that the White House spent too much political capital pushing for health care reform in 2009-2010 when it should have been focusing on the economy instead.
Takeovers can be hard to engineer in such opaque markets—and they also offer scope for more surreptitious state intervention.Yet continental Europe's model is being eroded, as privatisation and the need for outside capital pushes companies to list on stockmarkets that play by Anglo-Saxon rules.
If you assume half of restructured loans are written off, for example, over a quarter of the banking system by loans would be in trouble, with Tier-1 capital pushed below 6%, according to The Economist's estimates.Working out how much banks could lose is obviously vital.
IN THE past few months a force of the African Union (AU), consisting mainly of Ugandans and Burundians, has gained ground in Mogadishu, Somalia's battered capital, pushing the rebels of the Shabab, the jihadist movement linked to al-Qaeda, back to the fringes of the city.
That influx of capital pushed up wages and, together with rising stockmarkets and lower income-tax rates, created a mood of optimism among City professionals.A quarter of a century on, the City is far bigger: it established a second cluster in the early 1990s at Canary Wharf, a few miles east of Broadgate.
