Word: allowable
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Dates: during 2000-2009
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...Wall Street's Newfound Virtue In February 2000, one of the street's most powerful executives petitioned the Securities and Exchange Commission (SEC) to allow his firm and other investment banks to raise their levels of leverage. He wanted the commission to alter something called the net-capital rule, which he said was "the single most important factor in driving significant parts of our business offshore...
...That exec was Henry Paulson, then the CEO of Goldman Sachs, now U.S. Treasury Secretary. Four years later, the SEC complied, amending the rule; the effect was to allow Wall Street to borrow even more money to finance its businesses. At the most aggressive investment banks, leverage ratios reached 30 to 1. That is, for every dollar in equity capital the firm had, it borrowed...
...fact that so many states now allow early voting or no-fault absentee voting is a good thing. But as a nation that is the beacon of democracy, we sure make it hard for people to participate. The American registration system is far more local and decentralized than that of almost any other Western democracy, and we pay a price for it. As Michael Scherer's story points out, on Nov. 4 a host of problems could arise from issues such as inaccurate registration databases, badly designed ballots and confusing rules. While those problems may not be determinative or alter...
...their first look at the relationship between intense development and the local environment. For them, policies espousing only environmentalism or economic development and not both are self-defeating. The Brazilians continue to struggle with deforestation, as illegal logging clears room for cattle grazing, but solutions are being created to allow for the use of the Amazon’s bounty without destruction. This summer the government began the profitable and heroic production of condoms from rubber tree plants. Hydroelectric dams are also being built and activities which do not produce smoke are being subsidized, like bee-keeping, fish-farming...
Harvard’s chief planner for Allston, Kathy A. Spiegelman, said that the design of the commons would allow not just for collaboration across subjects but also for interaction between the campus and the community...