"It is the sensible, prudent and right thing to do," he said of the U-turn.
"We have a lot of economic uncertainties that have to do with the national economy," Mr. Mercurio said, "and in light of those conditions we're going to take some prudent steps right now".
The costs -- of doing what they saw as the right, prudent, nonviolent thing -- would be borne by the Iraqis alone.
This would be a huge embarrassment, an admission of failure just as Dimon was trying to convince regulators and Congress that banks could manage themselves, if only they were careful enough and had the right, prudent people in place.
"I think it's prudent and appropriate right now to operate under the assumption that Landry is our quarterback this week," Tomlin said.
"But the situation is so uncertain that it's not prudent to decide anything right now".
"Taking all these factors together, we judge that it is right and prudent to make this change today".
He said prudent managers had a right to check who was being taken on and denied that it amounted to blacklisting.
"Given the fact that we have been developing additional information within our intelligence community," a White House official said to reporters, "we felt it was the right and prudent thing to do to respond in an unclassified form to this letter".
One of the problems with austerity economics is that all the focus goes on immediate, instant, short-termist "savings" rather than on keeping our nerve and asking what is right and prudent for the long term.
He declined to discuss what he would consider right or prudent; in other instances when a larger company wants to adopt a new corporate name that turns out to be already in use by a smaller company, the larger one often pays the other a name-rights fee.
