Bankman-Fried was a Democrat megadonor. "[118] He concluded that Blacks were "inferior to the whites in the endowments of body and mind. Lincoln said during the Fourth Lincoln-Douglas debate held in Charleston, Illinois, on September 18, 1858: "I am not, nor ever have been, in favor of bringing about in any way the social and political equality of the white and black races, [applause]-that I am not nor ever have been in favor of making voters or jurors of negroes, nor of qualifying them to hold office, nor to intermarry with white people; and I will say in addition to this that there is a physical difference between the white and black races which I believe will forever forbid the two races living together on terms of social and political equality. [67], Two local governments in the US have issued declarations stating that racism constitutes a public health emergency: the Milwaukee County, Wisconsin executive in May 2019, and the Cleveland City Council, in June 2020. [44], On October 29, responding to growing concerns that Enron might have insufficient cash on hand, news spread that Enron was seeking a further $12 billion in financing from banks. Some critics contend that government mandates forced banks to extend loans to borrowers previously considered uncreditworthy, leading to increasingly lax underwriting standards and high mortgage approval rates. We got to where we did because we exploited that weakness. [361], In a 1998 book, John McMurtry suggested that a financial crisis is a systemic crisis of capitalism itself. [219] In 2008, chiropractors were reported to be the most common CAM providers for children and adolescents, these patients representing up to 14% of all visits to chiropractors. [8] There is a range of opinions among chiropractors: some believed that treatment should be confined to the spine, or back and neck pain; others disagreed. [368], Economists Ailsa McKay and Margunn Bjrnholt argued that the financial crisis and the response to it revealed a crisis of ideas in mainstream economics and within the economics profession, and call for a reshaping of both the economy, economic theory and the economics profession. The 20072008 financial crisis, or Global Financial Crisis (GFC), was a severe worldwide economic crisis that occurred in the early 21st century. [83] Also, the success of measures to preserve its solvency were not guaranteed, specifically as regarded asset sales and debt refinancing. [20], The special purpose entities were Tobashi schemes used for more than just circumventing accounting conventions. Critics label the tags "Spy Chips" and allege that they are to be used to collect information on customers' shopping habits. These results have been incorporated into training, for example, in some police departments. [11] No compelling evidence exists to indicate that maintenance chiropractic care adequately prevents symptoms or diseases. ", Fried, Rebecca A. Get the latest science news and technology news, read tech reviews and more at ABC News. He believes that "everything would be 70% fixed right now" if he hadn't declared bankruptcy. Too many consumers attempting to save or pay down debt simultaneously is called the paradox of thrift and can cause or deepen a recession. Kenneth Lay answering an analyst's question on August 14, 2001. September 17, 2008: Investors withdrew $144 billion from U.S. September 18, 2008: In a dramatic meeting, September 19, 2008: The Federal Reserve created the, September 20, 2008: Paulson requested the U.S. Congress authorize a $700 billion fund to acquire toxic mortgages, telling Congress "If it doesn't pass, then heaven help us all. "[3], The Naturalization Act of 1790 set the first uniform rules for the granting of United States citizenship by naturalization, which limited naturalization to "free white person[s]", thus excluding Native Americans, indentured servants, slaves, free Blacks and later Asians from citizenship. [60] A Harvard Professor of Social Epidemiology contended that much modern research supported the assumptions which were needed to justify racism. WebWe have hired a team of professional writers experienced in academic and business writing. Easy availability of credit in the US, fueled by large inflows of foreign funds after the, As part of the housing and credit booms, the number of. We also provide tools to help businesses grow, network and hire. As the glut in global investment capital caused the yields on credit assets to decline, asset managers were faced with the choice of either investing in assets where returns did not reflect true credit risk or returning funds to clients. The Fifteenth Amendment to the United States Constitution (ratified in 1870), explicitly prohibited denying the right to vote based on race, but delegated to Congress the responsibility for enforcement. [4] One piece of legislation, the SarbanesOxley Act, increased penalties for destroying, altering, or fabricating records in federal investigations or for attempting to defraud shareholders. Two years later, the figure jumped to $1.4 billion. ", "How Enron awards do, or don't, trickle down", "Enron's Plan Would Repay A Fraction of Dollars Owed", "Enron's 'Tilted-E' Sign Goes for $44,000 at Auction", "Enron Settles With Employees Who Lost Retirement Money", Judge approves $37.5 million Enron 401(k) settlement, "Billions to be shared by Enron shareholders", "UC begins distributing Enron settlement money", "Corporate Governance and Firm Value: the Impact of the 2002 Governance Rules", Pipe Dreams: Greed, Ego, and the Death of Enron, Bank of Credit and Commerce International, FacebookCambridge Analytica data scandal, https://en.wikipedia.org/w/index.php?title=Enron_scandal&oldid=1125901557, George W. Bush administration controversies, Short description is different from Wikidata, Articles needing cleanup from December 2022, Cleanup tagged articles with a reason field from December 2022, Wikipedia pages needing cleanup from December 2022, Articles with unsourced statements from July 2020, Articles lacking reliable references from July 2020, Creative Commons Attribution-ShareAlike License 3.0, Paulo Pereira, former president and CEO of the State Bank of Rio de Janeiro in Brazil. After several pilot projects, Enron claimed estimated profits of more than $110 million from the deal, even though analysts questioned the technical viability and market demand of the service. on 22 December 2014. were "straight" and disdained the use of instruments, some early chiropractors, whom B.J. JPMorgan Chase was incorporated in 1968. Two years later, the entity's arrangement was changed so that it would no longer be consolidated with Enron and be counted on the company's balance sheet. Lay questioned her as to whether she had told anyone outside of the company and then vowed to have the company's law firm, Vinson & Elkins, review the issues, despite Watkins arguing that using the law firm would present a conflict of interest. "[11]:299 On March 5, Bethany McLean's Fortune article "Is Enron Overpriced?" "[377], The Austrian School regarded the crisis as a vindication and classic example of a predictable credit-fueled bubble caused by laxity in monetary supply.[378]. [291], Additional downward pressure on interest rates was created by rising U.S. current account deficit, which peaked along with the housing bubble in 2006. [29] Some chiropractors have embraced vaccination, but a significant portion of the profession rejects it, as original chiropractic philosophy traces diseases to causes in the spine and states that vaccines interfere with healing. In 1993, Enron established a joint venture in energy investments with CalPERS, the California state pension fund, called the Joint Energy Development Investments (JEDI). [12] When accepting the risk of buying and selling products, merchants are allowed to report the selling price as revenues and the products' costs as cost of goods sold. [68][69], A 2014 meta-analysis found extensive evidence of racial discrimination in the American housing market. In a 1943 speech on the floor of Congress quoted in both The Jewish News of Detroit[299] and the antisemitic magazine The Defender of Wichita[300] Mississippi Representative John E. Rankin stated that Jewish Communists were arranging for white women to be raped by Black American men. These sales of slaves broke up many families, with historian Ira Berlin writing that whether slaves were directly uprooted or lived in fear that they or their families would be involuntarily moved, "the massive deportation traumatized black people".[121]. "[54] Watkins contacted a friend who worked for Arthur Andersen and he drafted a memorandum to give to the audit partners about the points she raised. Under this method, income from projects could be recorded, although the firm might never have received the money, with this income increasing financial earnings on the books. "[279], Events in Nazi Germany attracted attention in the United States. Anti-Japanese racism, which spiked after the attack on Pearl Harbor, was tacitly encouraged by the government, which used slurs such as "Jap" in propaganda posters. LJM 1 and 2 were created solely to serve as the outside equity investor needed for the special purpose entities that were being used by Enron. The Naturalization Act of 1870 extended naturalization to Black persons, but not to other non-white persons, but revoked the citizenship of naturalized Chinese Americans. This included setting up power generation plants in developing countries and emerging markets including the Philippines (Subic Bay), Indonesia and India (Dabhol). Dynegy agreed to invest $1.5 billion into Enron to keep it alive until the deal closed. But when Enron executives arrived at the Argentine facilities, they found them in a shambles with all of the customer records destroyed.[43]. Get all the latest India news, ipo, bse, business news, commodity only on Moneycontrol. [224] They were the third largest medical profession in the US in 2002, following physicians and dentists. [169] The Katz and Braley study also found that African-Americans and whites view the traits that they identify each other with as threatening, interracial communication between the two is likely to be "hesitant, reserved, and concealing". Specifically, they claim that the Nation of Islam has engaged in revisionist and antisemitic interpretations of the Holocaust and exaggerates the role of Jews in the Atlantic slave trade. [173][174][c] Floyd's murder sparked a wave of protests across the United States and worldwide. State-sponsored school segregation was declared unconstitutional by the Supreme Court of the United States in 1954 in Brown v. Board of Education. In 2016, one in 13 African-Americans of voting age was disenfranchised, more than four times greater than that of non-African-Americans. [33], Chiropractic is generally categorized as complementary and alternative medicine (CAM),[1] which focuses on manipulation of the musculoskeletal system, especially the spine. [17] However, it has been suggested that the causality between chiropractic cervical manipulation beyond the normal range of motion and vascular accidents is probable[17] or definite. By 2005, many lenders dropped the required FICO score to 620, making it much easier to qualify for prime loans and making subprime lending a riskier business. Since the September 11, 2001, attacks, there have been scattered incidents of Indian Americans becoming mistaken targets for hate crimes. [207], In 2009, a backlash to the libel suit filed by the British Chiropractic Association (BCA) against Simon Singh inspired the filing of formal complaints of false advertising against more than 500 individual chiropractors within one 24-hour period,[208][209] prompting the McTimoney Chiropractic Association to write to its members advising them to remove leaflets that make claims about whiplash and colic from their practice, to be wary of new patients and telephone inquiries, and telling their members: "If you have a website, take it down NOW" and "Finally, we strongly suggest you do NOT discuss this with others, especially patients. According to author Frank Pellegrini, various Bush appointments held connections to Enron, including deputy White House Chief of Staff Karl Rove as a stockholder, Secretary of the Army Thomas E. White Jr. as a former executive, and SEC chairman Harvey Pitt, a former employee of Arthur Andersen. [19][70] Chiropractic is autonomous from and competitive with mainstream medicine,[71] and osteopathy outside the US remains primarily a manual medical system;[72] physical therapists work alongside and cooperate with mainstream medicine, and osteopathic medicine in the U.S. has merged with the medical profession. The authors also indicate that some forms of securitization were "likely to vanish forever, having been an artifact of excessively loose credit conditions". [23] Similar accusations were also made in April 2005[24] despite its record 2,000,000,000 profit. [146] Blacks, including Olympic champion Jesse Owens,[147][148] were also denied commercial deals. [159] It is strongly recommended that practitioners consider the plausibility of CD as a symptom, and people can be informed of the association between CD and CMT before administrating manipulation of the cervical spine. Wang et al. [100] In 2013 the United States Department of Justice reached a deal with Skilling, which resulted in ten years being cut from his sentence. [268][269] The Congressional Budget Office estimated, in June 2011, that the bailout to Fannie Mae and Freddie Mac exceeds $300 billion (calculated by adding the fair value deficits of the entities to the direct bailout funds at the time). Taboo: Why Black Athletes Dominate Sports and why We are Afraid to Talk about it. Merrill Lynch executives were tried and in November 2004 convicted for aiding Enron in fraudulent accounting activities. The twenty largest economies contributing to global GDP (PPP) growth (20072017)[209], While the causes of the bubble and subsequent crash are disputed, the precipitating factor for the Financial Crisis of 20072008 was the bursting of the United States housing bubble and the subsequent subprime mortgage crisis, which occurred due to a high default rate and resulting foreclosures of mortgage loans, particularly adjustable-rate mortgages. Racism has manifested itself in a variety of ways, including genocide, slavery, lynchings, segregation, Native American reservations and boarding schools, racist immigration and naturalization laws, and internment camps. [170], In August 2017, the UN Committee on the Elimination of Racial Discrimination issued a rare warning to the US and its leadership to "unequivocally and unconditionally" condemn racist speech and crime, following violence in Charlottesville during a rally organized by white nationalists, white supremacists, Klansmen, neo-Nazis and various right-wing militias in August. [11]:338 In a post-mortem interview with The Washington Post, she recalled finding "strange transactions", "erratic cash flow", and "huge debt". "[60][27], While some chiropractors limit their practice to short-term treatment of musculoskeletal conditions, many falsely claim to be able treat a myriad of other conditions. "[45], In a conference call on April 17, 2001, then-Chief Executive Officer (CEO) Skilling verbally attacked Wall Street analyst Richard Grubman,[48] who questioned Enron's unusual accounting practices during a recorded conference call. [172], Requirements vary between countries. Same-sex marriage (laws and issues prohibiting), Fourteenth Amendment to the United States Constitution, Fifteenth Amendment to the United States Constitution, Race in the United States criminal justice system, Criminal justice reform in the United States, Racial bias in criminal news in the United States, Discrimination in education United States, White supremacy in U.S. school curriculum, Unethical human experimentation in the United States, racial differences in access to health care, Housing discrimination in the United States, United States Court of Appeals for the Fifth Circuit, Representation of African Americans in media, Racial segregation of churches in the United States, Religion in the United States Ethnicity, Religious discrimination in the United States, "scientific" theory of white superiority and Black inferiority, Thirteenth Amendment to the United States Constitution, Mass racial violence in the United States, authorized the practice of racial segregation, Student Nonviolent Coordinating Committee, Emanuel African Methodist Episcopal Church, Schomburg Center for Research in Black Culture, mass shooting in Charleston, South Carolina, Commitment March: Get Your Knee Off Our Necks, widely viewed as racist or racially charged, UN Committee on the Elimination of Racial Discrimination, Native American cultures in the United States, History of Native Americans in the United States, List of Indian massacres in North America, Stereotypes of indigenous peoples of Canada and the United States, forcibly remove certain Native American nations, United States Declaration of Independence, Industrial Revolution in the United States, Anti-Chinese sentiment in the United States, Anti-Chinese legislation in the United States, Japanese Americans joined the US military, incidents of xenophobia, racist bullying, and racist violence, Anti-Japanese sentiment in the United States, Anti-French sentiment in the United States, The Passing of the Great Race, or the Racial Basis of European History, The Rising Tide of Color Against White World-Supremacy, History of Hispanic and Latino Americans in the United States, Stereotypes of Hispanic and Latino Americans in the United States, Anti-Middle Eastern sentiment United States, Stereotypes of Arabs and Muslims in the United States, anti-Iranian sentiment in the United States, revisionist and antisemitic interpretations, Stereotypes of groups within the United States, Stereotypes of East Asians in the Western world, Interminority racism in the United States, expansion of German territory into the territories of other nations, elimination of their indigenous inhabitants, Timeline of terrorist attacks in the United States, List of incidents of civil unrest in the United States, drove his car into a group of counter-protesters, Anti-Romani sentiment in the United States, Densho: The Japanese American Legacy Project, Environmental racism in the United States, Historical racial and ethnic demographics of the United States, History of immigration to the United States, Interracial marriage in the United States, List of mass shootings in the United States, White genocide conspiracy theory#United States, Xenophobia and racism related to the COVID-19 pandemic#United States, Zionist Occupation Government conspiracy theory, "6 Million Lost Voters: State-Level Estimates of Felony Disenfranchisement, 2016", "Lifetime Likelihood of Going to State or Federal Prison", "Urban Black Violence: The Effect of Male Joblessness and Family Disruption", "Social Anatomy of Racial and Ethnic Disparities in Violence", "Serious Crime in Urban Neighborhoods: Is There a Race Effect? [105] A 2018 study in the journal American Politics Research found that white voters tended to misperceive political candidates from racial minorities as being more ideologically extreme than objective indicators would suggest; this adversely affected the electoral chances for those candidates. [359] According to the Brookings Institution in June 2009, the traditional banking system did not have the capital to close this gap: "It would take a number of years of strong profits to generate sufficient capital to support that additional lending volume" and some forms of securitization are "likely to vanish forever, having been an artifact of excessively loose credit conditions". [70] Geographical steering of African Americans in US housing remains significant. [48] This concept was later expanded upon by his son, B. J. Palmer, and was instrumental in providing the legal basis of differentiating chiropractic from conventional medicine. In its 2000 review of best corporate boards, Chief Executive included Enron among its five best boards. [11]:241, Before its demise, Enron was lauded for its sophisticated financial risk management tools. Palmer said he "received chiropractic from the other world". These portrayals may suggest that poverty and welfare are primarily Black issues. [39] In contrast, reductionism in chiropractic reduces causes and cures of health problems to a single factor, vertebral subluxation. [11]:358 On October 15, Vinson & Elkins announced that Enron had done nothing wrong in its accounting practices as Andersen had approved each issue.[56]. While straight chiropractic still retains the traditional vitalistic construct espoused by the founders, evidence-based chiropractic suggests that a mechanistic view will allow chiropractic care to become integrated into the wider health care community. Finally, in 1948, a judicial decision forced the remaining states to withdraw their prohibition on Indian voting.[12]. Kwame Anthony Appiah, Henry Louis Gates, Jr., eds. However, investors were oblivious to the fact that the special purpose entities were actually using the company's own stock and financial guarantees to finance these hedges. [134] The next year, investors received another settlement from several banks of $4.2 billion. In January 2007, the Competition Commission, published its initial findings into the UK grocery market. In the years leading up to the Indian Removal Act of 1830 there were many armed conflicts between white settlers and Native Americans. ), This page was last edited on 7 December 2022, at 12:58. Breaches included the sale of products after their sell-by date; allegations that the company illegally and sold 'back-labelled' products after their use by date; falsification of temperature records; and the sale of partially cooked mince mixed with uncooked mince. During the late 19th and early 20th centuries, hundreds of thousands of Jews escaped from the pogroms which were occurring in Europe. A subluxation is a health concern that manifests in the skeletal joints, and, through complex anatomical and physiological relationships, affects the nervous system and may lead to reduced function, disability or illness. Through concessions for industries such as oil, mining, and timber and through division of land from the General Allotment Act forward, these concessions have raised problems of consent, exploitation of low royalty rates, environmental injustice, and gross mismanagement of funds held in trust, resulting in the loss of $1040billion. These efforts to enforce white supremacy were very successful. [54] There is not sufficient data to establish the safety of chiropractic manipulations. Without it, some pages won't work properly. All companies must have a majority of independent directors. On July 7, 2008, IndyMac announced on the company blog that it: IndyMac announced the closure of both its retail lending and wholesale divisions, halted new loan submissions, and cut 3,800 jobs. [41], The securitization markets supported by the shadow banking system started to close down in the spring of 2007 and nearly shut-down in the fall of 2008. Its ties to the Bush administration assured that its views would be heard in Washington. [169], The Black Lives Matter movement started in 2013 after the acquittal of a man who had killed the African-American teen Trayvon Martin in 2012. [42] By the mid-1990s there was a growing scholarly interest in chiropractic, which helped efforts to improve service quality and establish clinical guidelines that recommended manual therapies for acute low back pain. They contend that there were two, connected causes to the crisis: the relaxation of underwriting standards in 1995 and the ultra-low interest rates initiated by the Federal Reserve after the terrorist attack on September 11, 2001. An example of this is the stereotyping of Blacks as criminals. Animal print reinforces the stereotypes that African Americans are animalistic in nature, sexually active, less educated, have lower income, and extremely concerned with personal appearances. [2] Its founder, D.D. Palmer, called it "a science of healing without drugs". Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas, DoddFrank Wall Street Reform and Consumer Protection Act, Causes of the United States housing bubble, Credit rating agencies and the subprime crisis, Government policies and the subprime mortgage crisis, ChinaJapanSouth Korea trilateral summit, American Recovery and Reinvestment Act of 2009, Emergency Economic Stabilization Act of 2008, Federal Reserve responses to the subprime crisis, Government intervention during the subprime mortgage crisis, Housing and Economic Recovery Act of 2008, National fiscal policy response to the Great Recession, Regulatory responses to the subprime crisis, Subprime mortgage crisis solutions debate, Term Asset-Backed Securities Loan Facility, List of banks acquired or bankrupted during the Great Recession, national fiscal policy response to the Great Recession, United States Senate Homeland Security Permanent Subcommittee on Investigations, Wall Street and the Financial Crisis: Anatomy of a Financial Collapse, Global financial crisis in September 2008, Dodd-Frank Wall Street Reform and Consumer Protection Act, Federal takeover of Fannie Mae and Freddie Mac, Speaker of the United States House of Representatives, Asset Backed Commercial Paper Money Market Mutual Fund Liquidity Facility, Fraud Enforcement and Recovery Act of 2009, Restoring American Financial Stability Act of 2010, Indirect economic effects of the subprime mortgage crisis, United States Department of Housing and Urban Development, United States House Committee on Financial Services, Office of Federal Housing Enterprise Oversight, Depository Institutions Deregulation and Monetary Control Act, GarnSt. [107] After pleading not guilty, he later switched to guilty and was sentenced to seven years in prison. [86] More generally, spinal manipulative therapy (SMT) describes techniques where the hands are used to manipulate, massage, mobilize, adjust, stimulate, apply traction to, or otherwise influence the spine and related tissues. The professions associated with each injury were assessed. [37] Some chiropractors claim spinal manipulation can have an effect on a variety of ailments such as irritable bowel syndrome and asthma. ", SBF exclaimed, "F*** regulators. On January 27, 2017, President Donald Trump signed Executive Order 13769, titled "Protecting the Nation from Foreign Terrorist Entry into the United States", otherwise known as the "Muslim Ban". It subsequently emerged that Enron's traders had grabbed much of the money from Dynegy's cash infusion and used it to guarantee payment to their trading partners when it came time to settle up. "[11]:142, Andersen's auditors were pressured by Enron's management to defer recognizing the charges from the special purpose entities as its credit risks became known. Our global writing staff includes experienced ENL & ESL academic writers in a variety of disciplines. From its inception as a savings association in 2000, IndyMac grew to the seventh largest savings and loan and ninth largest originator of mortgage loans in the United States. Echoing the central thesis of James Burnham's 1941 seminal book, The Managerial Revolution, Bogle cites issues, including:[366], In his book The Big Mo, Mark Roeder, a former executive at the Swiss-based UBS Bank, suggested that large-scale momentum, or The Big Mo "played a pivotal role" in the financial crisis. [232], Early opposition to water fluoridation included chiropractors, some of whom continue to oppose it as being incompatible with chiropractic philosophy and an infringement of personal freedom. [313][314], In a manner that defines interpersonal discrimination in the United States, Darryl Brown of the Virginia Law Review states that while "our society has established a consensus against blatant, intentional racism in the decades since Brown v Board of Education and it has also developed a sizeable set of legal remedies to address it", our legal system "ignores the possibility that 'race' is structural or interstitial, that it can be the root of injury even when it is not traceable to a specific intention or action". [200][201], Further dispossession of various kinds continues into the present, although these current dispossessions, especially in terms of land, rarely make major news headlines in the country (e.g., the Lenape people's recent fiscal troubles and subsequent land grab by the State of New Jersey), and sometimes even fail to make it to headlines in the localities in which they occur. [53] Observers noted that in the months before his exit, Skilling had sold at minimum 450,000 shares of Enron at a value of around $33 million (though he still owned over a million shares at the date of his departure). "[107], It is argued that the racial coding of concepts like crime and welfare has been used to strategically influence public political views. [74], Typical American families did not fare well, nor did the "wealthy-but-not-wealthiest" families just beneath the pyramid's top. [34][35] The contamination may have gone on since summer 2012 according to a leaked document. [384] In that paper, Rajan "argued that disaster might loom". In a new interview, Bankman-Fried confessed that he used his virtuous stances as a front to win the game. Its reduced liquidity was further exacerbated in late June 2008 when account holders withdrew $1.55 billion or about 7.5% of IndyMac's deposits. [43], The SEC announced it had filed civil fraud complaints against Andersen. [11]:338, McLean telephoned Skilling to discuss her findings prior to publishing the article, but he called her "unethical" for not properly researching his company. Many asset managers continued to invest client funds in over-priced (under-yielding) investments, to the detriment of their clients, so they could maintain their assets under management. He was an atheist. These three findings are consistent with the possibility that agents act upon the belief that some types of transactions are relatively unlikely for black customers (statistical discrimination). [51] Despite this, Enron's profit margin had stayed at a modest average of about 2.1%, and its share price had decreased by more than 30% since the same quarter of 2000. "Black Codes" and Jim Crow laws deprived African Americans of voting rights and other civil liberties by instituting systemic and discriminatory policies of unequal racial segregation. Tesco submitted planning applications for a new supermarket early in 2008 under Brian Fords' name. [6]:5 The Romanian women posted this on Facebook and called it "blatantly racist and xenophobic". Such debts were "vastly in excess" of its available cash. The shift from first-loss tranches to AAA-rated tranches was seen by regulators as a risk reduction that compensated the higher leverage. [72], In 2008, Thailand's Tesco Lotus associate sought penalties of two years in prison and a 16.4m libel damages from, writer and former legislator, Jit Siratranont after he argued it was expanding aggressively at the expense of small, local retailers. 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