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...Federal Reserve announced Wednesday afternoon that it was lowering its target short-term interest rate to 1%. Big deal. Almost everybody was already expecting the half-point rate cut that the Fed delivered, and the actual federal-funds rate (as opposed to the target rate) has mostly been below 1% for the past three weeks anyway. The stock market's reaction? A yawn, as the Dow closed down 74 points...

Author: /time Magazine | Title: What the Fed's New Interest-Rate Cut Really Means | 10/30/2008 | See Source »

...hooded sweatshirt on a ladder painting the slogan "One Nation Under CCTV" in large letters, as a U.S.-style police officer with a camera and a dog stand nearby. CCTV is Britain's system of closed-circuit public surveillance cameras. Ironically, Banksy completed the work with an actual CCTV camera overhead. (See pictures of Banksy's secret art show...

Author: /time Magazine | Title: Banksy Defends His Guerrilla Graffiti Art | 10/29/2008 | See Source »

...must first master the dreaded case interview. Mistakes during the case interview—not asking the right questions, computation errors, bursting into tears—can ensure that the only work you will be doing at McKinsey is janitorial. Not to fear, FM is here with some actual (read: made-up) cases from real (read: make-believe) interviews to help you prepare to wow that hot interviewer from Bain. Case 1 You are advising a major American insurance company headquartered in New York City. This company’s credit rating was recently downgraded because its London unit sold...

Author: By Jamison A. Hill, CRIMSON STAFF WRITER | Title: How to Rock the Mock Case Interview, FM Style | 10/29/2008 | See Source »

...Sell! Sell! Sell!" drowned it out. In the first thirty minutes, 3 million shares changed hands and with them, another $2 million disappeared into thin air. Phone lines clogged. The volume of Western Union telegrams traveling across the country tripled. The ticker tape ran so far behind the actual transactions that some traders simply let it run out. Trades happened so quickly that although people knew they were losing money, they didn't know how much. Rumors of investors jumping out of buildings spread through Wall Street; although they weren't true, they drove the prices down further. Brokers called...

Author: /time Magazine | Title: The Crash of 1929 | 10/29/2008 | See Source »

There are so many guidelines for this. They're based on actual study and analysis of what led to the catastrophe on Sept. 11. Not a single one of the recommendations has anything to do with expanding the government's surveillance power. That was not what the problem was. The problem was the government had not effectively acted on the enormous amounts of information they had already amassed under its already enormous surveillance power. One of the points the Sept. 11 Commission made was that excessive secrecy actually undermined national security because it was hard to get information out. With...

Author: /time Magazine | Title: Outgoing ACLU President Nadine Strossen | 10/28/2008 | See Source »

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