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Justin Fox's "Get Homes Off Welfare" is quite a stretch [Oct. 12]. Real estate values have plummeted not because of government aid but because of people making poor decisions with their money after being convinced they could buy more than they could afford. My wife and I will be putting our tax credit into improving our new home, thereby injecting that money right back into the economy. Plenty of us are responsible enough to know our limitations and make good decisions with our money. Do not take benefits away from us because of the people...
However, the policy is ultimately little more than a symbolic gesture and a Band-Aid fix to a problem that is in dire need of a suture. Simply cutting the pay of executives does little to address the systemic problems that helped give rise to the financial crisis. The Obama administration now has a unique opportunity to capitalize on populist discontent with policies that correct the lax regulatory regime that helped enable the financial meltdown. Real change to the current system, which incentivizes unnecessary risk-taking and corporate irresponsibility, cannot be replaced with simply cutting executive pay. The recent cuts...
Still, Smith noted that FAS received about $33 million in unrestricted gifts from two anonymous donors this past year, while also making a strategic withdrawal of $20 million in cash from its endowment to help offset the increased costs of the middle-income financial aid initiative...
...approved legislation last night that would partner the Committee with Harvard Student Agencies to provide shuttle service to and from Yale during the Harvard-Yale Football Game. The UC also supported creation of a new ad hoc student committee to discuss education and other topics such as financial aid for students...
...remaining $110 million deficit. Still, Smith noted that FAS received about $33 million in unrestricted gifts from two anonymous donors this past year, while also making a one-time withdrawal of $20 million in cash from its endowment to help offset the increased costs of the middle-income financial aid initiative. Both funding sources represent isolated influxes into the annual budget, and will not be reported in subsequent years, meaning that the long-term deficit that Smith has emphasized in a series of faculty meetings and community gatherings remains a concern. But Smith wrote in the report Friday that...