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...recent change in accounting rules means that banks are going to have to bring those loans back on their books by the end of this year. The biggest fear is that banks will start recording losses from these loans that investors weren't expecting. There's a second problem related to shadow assets: Regulators say that banks must hold capital equal to at least 5% of their assets to be considered healthy. Citigroup, to take one example, has about $850 billion in special purpose entities. That means to reincorporate those assets by the end of this year, Citigroup will have...
Like fireflies, the work of Niisato Akio resembles delicate orbs of light. And this spring will bring both to Boston with Niisato’s first U.S. exhibition. The slender, white porcelain creations are etched with intricate patterns, shaped as both everyday vessels and more obtuse and nontraditional forms. Last Monday, Niisato demonstrated his unique technique of creating the patterns on his ceramics with a drill and gave a presentation on his past works and artistic history at the Ceramics Studio, run by the Office for the Arts. Niisato’s work is currently on exhibition in Boston...
...Garber hopes to eventually fill a tenured faculty position to teach studio painting, but with the current hiring freeze, this is not an option. The proposed solution is to bring in various visiting faculty, which could have both positive and negative ramifications according to Rojer...
...bill pleases activists like Gabriel Sayegh, project director at the Drug Policy Alliance, who has sought such changes for years. "Now they are going to bring equity to the system," he says. However, some prosecutors believe the 2004 reforms were enough and no further reforms are needed. "There is no question you'll get more second and third time offenders," says Michael C. Green, Monroe County District Attorney. "The option is being taken away to potentially jail an offender who has committed prior violent felonies." Green cited statistics that showed the state's drug incarceration rate dropping to about...
...Obama in Europe this week, he agreed to arms-control talks in order to cut weapons stockpiles and prevent the spread of nukes to Iran and North Korea. The talks are to be followed by another meeting between the two leaders in July. "We have considerably more positions that bring us together than those that force us apart," he noted, marking a new sense of possibility between the two countries. Still, Prime Minister Putin's influence over Medvedev remains solid, as exhibited by the military force Medvedev used against separatists in the former Soviet Republic of Georgia last August...