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Dates: during 2000-2009
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Swiss banking giant UBS takes its name from the first initials of the company's original moniker Union Bank of Switzerland. But over the past few months the Swiss have begun to joke that the acronym should stand for United Bandits of Switzerland. Fury over a tax scandal and massive losses thanks to UBS's exposure to the toxic subprime market in the U.S. is growing fast. "Those arrogant and greedy bankers are tarnishing our image," says Marie-Claire Favre between sips of her cappuccino in a Lausanne cafe. Standing in front of UBS's Lausanne office, Bernard Thevenoz...

Author: /time Magazine | Title: The Swiss Question Their Once Proud Banks | 3/5/2009 | See Source »

Substantial numbers of highly skilled immigrant workers have begun leaving the United States for their home countries, potentially damaging the economy’s ability to recover by removing a key source of talent, suggests a recent study led by a Harvard researcher. Skilled immigrants who have historically stayed in the United States have proved a key source of innovation for the nation’s economy, according to Vivek Wadhwa, a Law School senior research associate who led the study. Wadhwa said 52 percent of Silicon Valley startups and a quarter of startups nationwide were started by immigrants...

Author: By Kevin Lin, CRIMSON STAFF WRITER | Title: Foreign Grads Return Home | 3/4/2009 | See Source »

...That doesn’t mean that cooperation on climate change will be easy. Only since Obama’s inauguration has the U.S. begun to get serious on climate change, and even so we are unlikely to see a bill pass the Senate and the House before 2010, owing as much to Democratic opposition as Republican. For years the U.S. has refused to commit to emissions cuts if China wasn’t willing to do the same. China has deferred action, claiming that, until recently, it was a developing country making a negligible contribution to the current problem...

Author: By Clay A. Dumas | Title: Hillary Goes to China | 3/4/2009 | See Source »

...ones for whose upkeep they don't feel responsible. Recently released figures indicate that around 11,600 of the bicycles have been trashed, slashed, battered, brutalized and even drowned in the Seine since the program began; 7,800 others have been stolen. Just as bad, some cyclists have even begun broadcasting Internet videos of themselves engaged in "Vélib free rides" or "extreme Vélib'," in which wannabe urban daredevils put the solid but graceless bikes through punishing stunts usually reserved for BMX or mountain bikes...

Author: /time Magazine | Title: Postcard from Paris: Cyclists Behaving Badly | 3/4/2009 | See Source »

...Menino makes compelling points about the need for greater cooperation in the continuation of the Allston construction program. Finishing the science center already begun in Allston should be a priority of the university, as it will greatly benefit Harvard and the Allston community, boosting our science programs, improving infrastructure, and supporting Allston’s economy. One further point made in the letter deserves particular attention. The university must be more transparent about the state of its finances if the Harvard community and our neighbors are to accept the host of cuts being made...

Author: By The Crimson Staff, CRIMSON STAFF WRITER | Title: Some Explaining to Do | 3/3/2009 | See Source »

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