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...submit to the show. The show is unconventional in that all of the profits of each work will go to the respective artist; the show’s organizers will not collect commissions off the sales. The selection committee, however, will specifically chose 20 pieces for a silent auction and 20 percent of their profits will go to maintaining the show in the years to come.Though clichéd college posters will continue to stake their territory on student walls, these glossy sheets may now have to share that turf with original student paintings. If the Harvard Student Art Show...

Author: By Lillian Yu, CONTRIBUTING WRITER | Title: Students Make Bank with Art | 3/20/2009 | See Source »

...private investment fund, heavily backed by government money. But versions of the plan have faced challenges from the start. Last year, when he was head of the New York Federal Reserve, Geithner said the government might to try by itself to restart sales in these assets using a "reverse auction" where sellers bid down an asset's price to compete for buyers. (Read "Obama's Challenge: Containing the AIG Bonus Outrage...

Author: /time Magazine | Title: Plan to Buy Toxic Bank Assets Delayed Again | 3/19/2009 | See Source »

...settle for a pageant of public shaming, in which the scoundrels must beg forgiveness and make amends; we'd claw back those bonuses, foreclose on their castles, auction their toys, watch the once mighty prowl a grocery aisle calculating whether they can afford the big box of cereal that is a better deal but ties up more capital. It might appease our restless animal spirits for a time; biologists have found that receiving an apology affects blood chemistry, slows the heart rate and calms our breathing - all much needed at a moment of national fibrillation. Chimpanzees apologize, or at least...

Author: /time Magazine | Title: The Lost Art of Saying I'm Sorry | 3/18/2009 | See Source »

...even clear how Geithner would run such a complicated sale. Previously he talked about using an auction or a reverse auction (in which sellers bid prices lower to attract buyers). Now Administration officials say they may just expand a new program run by the Federal Reserve. That program, the Term Asset-Backed Securities Loan Facility (TALF), is designed to spur consumer lending by stimulating sales of securitized consumer loans. The New York Federal Reserve has had to extend the application period because of market qualms, though Talbott says interest is building...

Author: /time Magazine | Title: Geithner Faces Questions as He Prepares to Roll Out Toxic-Asset Plan | 3/17/2009 | See Source »

...February 2009, Travis Jackson, a young banker, bought Bernanke's childhood home in South Carolina in a foreclosure auction. Bernanke's family had sold the home more than 10 years prior, but the latest owners lost the house after falling behind in payments...

Author: /time Magazine | Title: Federal Reserve Chairman Ben Bernanke | 3/16/2009 | See Source »

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