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HKS in the News February 29, 2012

1. 'Iran' as a weapon of subordination (Burns) Asia Times Online

2. Nomura Reeling From Lehman Hangover as Shibata Vows No Retreat (Overholt) Bloomberg Businessweek

'Iran' as a weapon of subordination

Asia Times Online

February 29

Quoted: Nicholas Burns, Belfer Center

Topic: Iran-India relations

The United States has taken steps to pressure its allies outside Europe to move away from imports of Iranian oil. US State Department spokesperson Victoria Nuland specifically mentioned India and China when saying on February 21 that her government was "having talks with countries around the world about the implications of the [sanctions/embargo] legislation with regard to our expectation that countries will increasingly wean themselves of dependence on Iranian oil."

Asked about an opinion piece from former Under Secretary of State Nicholas Burns, who wrote that India's decision to continue trade with Iran "isn't just a slap in the face for the US - it raises questions about its ability to lead", Nuland brushed Burns off as "a private citizen". …

Burns ' statement that India does not show its "ability to lead" is a threat that the US might not endorse India's bid for a permanent seat on the UN Security Council. This is a political game, with "Iran" used as a weapon to subordinate countries like India to the economic and political domain of the US. The US is playing with fire, pushing the "Iraq option" in Iran not for regime change necessarily, but in a Cold War against the emergent states (Brazil, Turkey, India, China).

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Nomura Reeling From Lehman Hangover as Shibata Vows No Retreat

Bloomberg Businessweek

February 28

Quoted: William Overholt, Ash Center

Topic: Nomura Holdings Inc. and Lehman Brothers Holdings Inc.

At 8 a.m. on Jan. 10, Takumi Shibata, chief operating officer of Nomura Holdings Inc., walked into the firm's London boardroom overlooking the River Thames to try to salvage its 2008 acquisition of parts of bankrupt Lehman Brothers Holdings Inc.

Shibata had flown in from Tokyo to assemble executives at Nomura's wholesale business, which includes investment banking and sales and trading. The unit's head, Jesse Bhattal, was on videoconference from Singapore with news: He was leaving. Before the meeting, Shibata had terminated Bhattal's lieutenant, Tarun Jotwani, a former Lehman trader running global markets, according to people familiar with the situation who asked not to be identified. …

“The firm's ambition has been to be the Japanese Morgan Stanley or Goldman Sachs -- a major global player,” saysWilliam Overholt, chief regional strategist at Nomura in Hong Kong until 2001 and now with Harvard University's Kennedy School of Government. “It has suffered from an inability to implement its strategy.”

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This selection of media appearances is compiled by the Office of Communications and Public Affairs.

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