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...idea is that in a global economy so tightly linked that problems in the U.S. real estate market can help bring down Icelandic banks and Asian manufacturers, AIG sits at some of the critical switch points. Its failure, so the fear goes, would set off chains of others, rattling around the globe in short order. Although some critics say the fear is overblown and the world economy could absorb the blow, no one seems particularly keen on testing that approach...
...planning to put another several hundred billion dollars into buying up debt to help bring down interest rates. Nearly $300 billion of that will go to buying longer term Treasuries. If that causes interest rates to fall, it will help people who borrow money in the future, but may not do very much for Citi's clients who borrowed money over the last two years. Many of those clients are tapped out, and the big bank faces hundreds of millions, possibly billions, of dollars in write-down of consumer loans. That does not take into account the amounts that will...
House Masters: Freakishly spirited. Masters Stephen P. Rosen ’74 and Mandana Sassanfar bring a maniacal devotion to IM sports (Winthrop is the reigning Straus Cup champion), and weekly Sunday-night Masters’ Open Houses are the kind of gorge-fests that give stress-eating its good name...
...program. The admissions website now states that, “Instead, the College has embarked on a planning process for substantial capital investment to renovate and revitalize its residential spaces.” It is deeply troubling that the College has reneged on its promise to bring back the transfer program and has no real plan...
...limited marginal cost to the College’s budget, requiring no new professors and being placed into existing advising programs. Although the addition of a few transfer students might require better selectivity in freshman admissions or a slightly greater burden on the House system, the benefits that they bring to the community far outweigh the costs. Harvard must reopen the option of accepting gifted transfer students, whether one, five, 20, or more. Divided among 12 Houses, the burden would be so small, and the gain so great, that the continuation of the suspension is a detriment to the College...