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Last week, Federal Reserve Chairman Ben Bernanke said the recession is probably over. But that hasn't halted the Treasury Department from continuing to dole out billions of dollars to financial firms. The latest installment came two weeks ago, when the Treasury sent nearly $75 million from the Troubled Asset Relief Program (TARP) to five banks. Community Bancshares of Mississippi was the largest recipient, getting $52 million in federal funds. All told, the government has spent nearly $5 billion in rescue funds in the past three months. Many of the recipients have been small banks. (See TIME's special report...
...walk in, be prepared to learn that “granny-shifting, not double-clutching like you should” doesn’t actually mean anything on modern cars. Who knew? Maybe including my love of cars on my admissions application might have been an asset rather than a liability after all?—David I. Fulton-Howard ’08-10 is a senior Visual and Environmental Studies concentrator in Pforzheimer House. He goes coo coo for Corollas...
MIT’s endowment outperformed its peers this past year. According to investment consulting firm Wilshire Associates the median large endowment this past year generated an investment loss of roughly 18 percent. “Investments in the fixed income, marketable alternative, real asset, and real estate arenas helped offset significant declines in public and private equity portfolios,” the MIT press release stated...
...summer of political combat is turning toward an autumn of showdowns over some of the biggest public-policy initiatives in decades. The creamy notions of postpartisan cooperation - poured abundantly over Obama's presidential campaign a year ago - have curdled into suspicion and feelings of helplessness. Trust is a toxic asset, sitting valueless on the national books. Good faith is trading at pennies on the dollar. The old American mind-set that Richard Hofstadter famously called "the paranoid style" - the sense that Masons or the railroads or the Pope or the guys in black helicopters are in league to destroy...
...years old this is probably the last major thing he'll participate in," says one senior GOP Senate staffer. Democrats in the Administration and on Capitol Hill say they believe Shelby is negotiating in good faith. (Read "Geithner Faces Questions as He Prepares to Roll Out Toxic-Asset Plan...