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It has begun to occur to the financial industry and the central banks of the G7 and a number of smaller Western European countries that if some of the nations in Eastern Europe default on their debt, the world may look as it did three decades ago when several Latin...

Author: /time Magazine | Title: Sending the Financial World to Save Eastern Europe | 2/27/2009 | See Source »

The U.S. government is in the process of "stress testing" banks by making assumptions that the American economy could collapse and that unemployment could move to 10% with housing prices could fall another 20%. None of that "testing" take into account what happens if the financial status of Eastern Europe...

Author: /time Magazine | Title: Sending the Financial World to Save Eastern Europe | 2/27/2009 | See Source »

Svalbard is a repository for samples from national seed banks across the globe - almost every country in the world has one. Their purpose, of course, is to backup native plant varieties. If climate conditions change or a disease threatens crops currently in use, plant breeders can dip into seed banks...

Author: /time Magazine | Title: The Planet's Ultimate Backup Plan: Svalbard | 2/27/2009 | See Source »

Dramatic action in the banking industry is crucial, since the effects of the $787 billion American Recovery and Reinvestment Act will be strongly diminished if the credit crunch continues. The weeks spent debating the merits and drawbacks of the stimulus plan cannot go to waste. In an ordinary recession, the...

Author: By The Crimson Staff | Title: (Don't Fear) the Receiver | 2/27/2009 | See Source »

This week, President Barack Obama called for the 19 largest banks in the country to undergo “stress tests” to determine whether they are adequately capitalized to withstand a significant economic downturn. Critics have claimed that the government’s worst-case economic condition forecasts...

Author: By The Crimson Staff | Title: (Don't Fear) the Receiver | 2/27/2009 | See Source »

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