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...Minding the gap isn't merely an academic exercise. Excess capacity directly affects the biggest question facing policymakers today: when to exit from stimulus programs that were introduced to combat the recession. Everyone agrees the cure for excess capacity is increasing demand, whether it is generated through a fundamentally strengthening economy or through artificial means like "Cash for Clunkers" measures. Turn off the tap too quickly before normal demand recovers, and the downturn could persist. "The best way of reducing excess capacity is by not prematurely unwinding stimulus spending," Lin of the World Bank told TIME...
...story of how he ended up headed for federal prison is still mired in sharply conflicting accounts. Justice officials claim that Birkenfeld was not completely forthcoming about his own dealings with particular clients, especially his biggest, the billionaire Olenicoff. Even as he was talking to the feds, they say, Birkenfeld was secretly advising the real estate mogul to move his money from UBS to Liechtenstein banks. (Olenicoff eventually settled for $53 million in tax and penalties...
...outstanding performance could not have come at a better time, for two reasons. First, the Crimson was facing the Bulldogs in the biggest race of the season so far. Second, Harvard was racing without captain Chas Gillespie, who has not competed this year due to injury...
Harvard College Library is going online! No, they're not putting up online versions of all the texts in the Harvard library system (Only in FlyBy's dreams). In fact, the library's new initiative involves the biggest source of procrastination ever. Facebook...
Harvard College Library is going online! No, they're not putting up online versions of all the texts in the Harvard library system (Only in FlyBy's dreams). In fact, the library's new initiative involves the biggest source of procrastination ever. Facebook...