Word: allowances
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...height of the crisis over the winter, there were neither buyers nor sellers for the toxic assets. Saddled with the assets on their balance sheets, the banks sharply curtailed lending, threatening to throw the economy into a tailspin. The Bush and Obama Administrations poured money into the banks to allow them to restart some lending, but the toxic assets remained on the banks' books. (See five lessons from the AIG-bonus blowup...
Harvard has signed another custom loan agreement to increase borrowing options for graduate students, some of whom have had trouble securing funding in the wake of the credit crunch, University officials announced yesterday. The deal with the Harvard University Employees Credit Union will allow eligible Harvard graduate students to borrow a maximum of $250,000 for their education without a co-signer—a safety net required by many lenders. Discussions with HUECU have been ongoing for the past six weeks, and the recently completed contract will take effect on April 23 for the next three years. The arrangement?...
...aspiring journalists will set up camp in Williamsburg or at NYU housing, hoping to work up enough hipster cred to create a cleverly named tumblr that people might actually read. Finally, there is the PBHA wunderkind-turned-activist. These heroes of the summer score public-service fellowships that allow them to live in the city for three months and devote time and energy to the type of things that make the world a better place...
...also decrease jingoistic sentiments by making people realize that all immigrants can become meaningfully integrated in the American society. As we wait for more details, we hope that pertinent legislation will continue to be passed. Specifically, we hope to see the Dream Act passed soon. The Dream Act would allow the children of illegal immigrants to take advantage of federal funds to pursue higher education—an obvious step in the right direction for the integration of illegal immigrants into American society. Finally, while the focus of this legislation deals primarily with low-wage immigrants, we should seize upon...
...students gathered to hear Glenda R. Carpio—an associate professor of African and African-American Studies—and Jigna Desai—a visiting associate professor in the Women, Gender, and Sexuality Department—praise a newly-proposed ethnic studies program, which they said would allow students to discuss questions of racial and ethnic identity in an academic setting. “People end up talking in dorm rooms or over this kind of food, which are very powerful media,” she said over a table of desserts from Finale?...