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...Improbable,” Nassim N. Taleb, who has held positions at Columbia, Wharton, and NYU, argues that these events—which he dubs “black swans”—are the most important determinants of the course of history. Models that fail to account for them are all but useless. Even so, Merton insists that the “degree of sophistication” and the “mindset” in risk management have greatly improved in recent decades, since VaR was developed and popularized. But as its use became widespread...

Author: By Athena Y. Jiang, CRIMSON STAFF WRITER | Title: Post-Crisis Economics | 6/3/2009 | See Source »

...While there are currently about 65 confirmed job cuts, some of which have not been directly linked to cost-saving measures, this number could increase as the administration attempts to account for the remaining $143 million over the next two years...

Author: By Evan T. R. Rosenman, CRIMSON STAFF WRITER | Title: Students Feel the Pinch | 6/3/2009 | See Source »

...first proposed that the College review the procedures of the Ad Board in Spring 2007, and Interim Dean of the College David R. Pilbeam convened a small review committee in November 2007. The group presented its findings to Hammonds on March 6, many of which will be taken into account over the next year, Hammonds has indicated. And while many advocates for reform have applauded the proposed changes, without an undergraduate voice on the Ad Board, some feel that the student body will still be left in the dark.DUTIES OF THE RESIDENT DEANSOne of the most significant changes...

Author: By Eric P. Newcomer, CRIMSON STAFF WRITER | Title: Taking Reform Off The Shelf | 6/3/2009 | See Source »

...after the Civil War led to an overzealous Congress in the Reconstruction Period and massive corruption in President Grant’s administration. Democratic one-party rule from the early 1930s until the mid ‘40s culminated in sclerotic post-World War II policies that failed to account for the vast changes in our country, and once more, to massive cronyism and corruption...

Author: By Pat Toomey | Title: The Danger of One-Party Rule in Washington | 6/3/2009 | See Source »

...temporary suspension of transfer admissions was explained last March as the result of overcrowded upperclass Houses that, when taking into account the number of students who would already be living in the Houses in the 2008-2009 and 2009-2010 academic years, could not feasibly take on the burden of any more students. Could the school not even accept 12 transfer students per year? That would amount to a grand total of one additional resident of each House...

Author: By Victoria B. Kabak | Title: When Three is as Good as Four | 6/3/2009 | See Source »

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