Word: banksã
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...clearly exploitative as overdraft protection services. It doesn’t make you optimistic about ever setting good rules on credit cards, whose effect on our society is far more pernicious. Credit-card regulation passed last spring was a good start but ultimately does little more than limit banks?? ability to market credit cards to students and require them to warn you before they do something like raise your interest rates from 19 to 30 percent in the space of one month, even if you haven’t missed a payment, just because the issuer claims...
...physical matter.While several major financial institutions have disappeared, leaving experts to sift through the wreckage, many Harvard professors said that the backlash on quantitative models was largely unwarranted. Furthermore, they say quantitative models have become so prevalent in recent years—used everywhere from hedge funds to central banks??that drastically curtailing their use would cause more harm than good.Laibson calls pundits’ suggestions that the failures of risk modeling demonstrate the failure of mathematical modeling at large an “extreme overreaction” to the events of recent months...
...spokesman said at the time that the frozen credit markets caused lenders to shy away from issuing high risk loans. HUECU president Eugene J. Foley acknowledged that the credit union will likely see higher default rates on international student loans. But because the credit union—unlike commercial banks??is a not-for-profit organization, profit maximization for shareholders is not a primary concern. As a result, the credit union is able to offer more competitive rates and arrangements for borrowers. “Everyone shares profits equally through lower rates,” Foley said, explaining...
...last fall—will face more restrictions in hiring H-1B visa holders, foreigners with at least a bachelor’s degree and “highly specialized knowledge” in a particular field. Firms affected by the amendment—including nearly all large investment banks??have consistently hired from Harvard Business School and Harvard Law School in past years, prompting Harvard’s lobbyists to push for a loose interpretation of the restrictions. Firms that have accepted TARP funds would be required to demonstrate that they have made concerted efforts to employ...
...which the Treasury handed $700 billion to the nation’s banks with little positive result. The consequences of the Japanese—and hence our—rescue plan, according to Adam Posen of the Peterson Institute of International Economics, “is that the banks?? top management simply burns through that cash, socializing the losses for the taxpayer, grabbing any rare gains for management payouts or shareholder dividends, and ending up still undercapitalized.” A different course of action is necessary...