He also has been writing puts against a hot biotech start up called Exact Science ( EXAS), hoping to buy into the stock at a cheap price, but collecting income while he waits for the stock to drop.

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"Richard has a way of writing that puts you right there, " he said.

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The mediator puts the agreements in writing and everyone signs.

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The basic complaint is that the Bush White House puts political ideology over science when writing policy or when determining who sits on advisory panels set up to provide expert input into decision making.

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My point is that, between them, these peers can raise up a formidable alliance in the Lords, capable of re-writing and toughening up any financial services regulation the Chancellor puts forward - crossbenchers, bishops, Labour, Lib Dems and at least a substantial minority of Tory peers.

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