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...government lending facilities to buy so-called toxic assets from banks, thereby cleaning up the banks' balance sheets and facilitating lending across the country. But the banks, convinced the market was undervaluing the assets, toxic or not, have never been very enthusiastic about selling them. (See 25 people to blame for the financial crisis...

Author: /time Magazine | Title: The Bank Rescue Plan Is in Limbo. Is This Good News? | 6/3/2009 | See Source »

Despite President Faust’s plaints—delivered, on the eve of Commencement, perhaps too tardily—her institution deserves the bulk of the blame. Students, untutored and undirected, cannot be too harshly indicted for wanting to cash in their many talents for fortune, prestige, and power. The liberal arts should educate those passions, inspiring at the very least an awareness that the greatest goods in life are not simply creature comforts or those simple and low pleasures of the herd. And certainly, true happiness and “meaning” do not reside in satisfying...

Author: By Christopher B. Lacaria | Title: Education Without Substance and Without a Soul | 6/2/2009 | See Source »

...We’re in the midst of an unprecedented financial crisis and it’s hard to place blame,” said Brian S. Elliot, a graduating student who helped publicize the oath. “But, I believe that if business leaders show a stronger commitment to ethical behavior, the avarice that has driven many business decisions in the past might be mitigated in the future...

Author: By William N. White, CRIMSON STAFF WRITER | Title: HBS Students Take Ethics Oath | 6/2/2009 | See Source »

...have been disappointed by our time at Harvard, perhaps it is worthwhile not to immediately blame the institution. Looking inward, exercising restraint and approaching our final moments here with a mature assessment of both the College’s and our own accomplishments is a worthwhile endeavor...

Author: By Malcom A. Glenn | Title: Restrained Contentment | 6/2/2009 | See Source »

...Markets in Hong Kong. At the same time, in the U.S., data showed that personal income in April rose 0.5%, an encouraging number. On a day when General Motors, once the world's largest industrial corporation, declared bankruptcy, the Dow Jones industrial average rose 2.6%. (See 25 people to blame for the financial crisis...

Author: /time Magazine | Title: Geithner Gets a Warmer Reception in China | 6/2/2009 | See Source »

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