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More than two decades ago, when the Washington consensus started promoting the gospel of financial deregulation, investment banks and hedge funds were given unfettered freedom to be creative.
But annual funding fell by 25% in the coalition's first year and remained below 2010 levels, leaving hundreds of schemes unbuilt, until emergency repair funds were given after the winter floods.
Later that week, however, Lord McAlpine, who had been party treasurer at the time the funds were given, broke ranks and insisted the funds were "tainted money" and "shames the Conservatives if they hang on to it".
Due to his magnanimity, generosity, and wise judgment, promising students who lacked funds were given the necessary encouragement, financial assistance, and introductions to the scientific community to insure a successful start in life.
Correction: May 22, 2004, Saturday An article on Thursday about Mayor Michael R. Bloomberg's testimony before the federal commission investigating the 9/11 attacks misstated the period in which $281 million in federal counterterrorism funds were given to the New York metropolitan area.
The funds were given so shortly before Mr. Hubbell pleaded guilty that he could not have performed any services for his generous donors.
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"After the crash, there were stories about abuses of those practices, that some funds were giving information to arbitragers, the same kind of things they are doing today," Mr. Partnoy said.
As with many trusts, the funds are given to descendants as the oldest generations die.
Yet hedge funds are given this luxury in reporting their performance to compilers of sectorwide performance indexes.
In 1998, the Committee on State Funding of Elections, headed by the late Indrajit Gupta, a veteran Communist leader, and included now-Prime Minister Manmohan Singh as one of its members, suggested that funds be given to "recognized" national and state-level political parties.
Another 2.5% of respondents stated that subsistence funds are given to the elderly, while 1% indicated that no assistance was given.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com