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...liabilities of those banks to its national debt. RBS's liabilities alone exceed the total national income of the U.K. Even excluding them, Brown is almost certain to break one of his own cardinal rules by failing to keep the total debt level below 40% of national income. Carl Emmerson, deputy director of the Institute for Fiscal Studies in London, estimates that Britain's budget deficit for the current fiscal year will likely grow from the government's planned 2.8% of GDP to about...

Author: /time Magazine | Title: The Economy's Perilous Waters | 10/15/2008 | See Source »

...Speaking at the Paris Motor Show earlier this month, Carl-Peter Forster, president of GM Europe, said that car sales were falling fast across Europe and that higher gas prices had made the cost of car ownership prohibitive. To own and operate a car in Germany now costs 25.5 % more than it did in 2000, he said, while the consumer price increase has only been 15.6 %. Forster believes carmakers need help from Europe's capitals to turn the situation around. He wants European governments to stimulate the economy, free up credit and restore consumer confidence...

Author: /time Magazine | Title: Germany's Car Industry Crashes | 10/11/2008 | See Source »

...Massachusetts Avenue and Everett Street at approximately 1:10 a.m., according to HUPD spokesman Steven G. Catalano. According to Erika P. Pierson ’12, who was one of the passengers on the shuttle, none of the 15 students on the bus were seriously injured. According to Carl Tempesta, the manager of operations for Harvard Transportation Services, as the shuttle driver was making a right turn onto Everett Street, a bicyclist struck the passenger side of the bus causing her to fall off her bike. The bicyclist, who Tempesta identified as a Lesley College graduate student, was taken...

Author: By Melody Y. Hu, CONTRIBUTING WRITER | Title: Crash with Harvard Shuttle Bus Sends Biker to Hospital; No Bus Passengers Injured | 9/30/2008 | See Source »

...importance of reading all texts critically, a point worth stressing in this new information age, when readers tend to think that they have access to unmediated factual knowledge by consulting their computers. ROBERT C. DARNTON ‘60 Cambridge, Mass. September 19, 2008 The writer is the Carl H. Pforzheimer University Professor and Director of the University Library...

Author: By Robert C. Darnton | Title: Reading Critically, Not an Attack on Journalists | 9/30/2008 | See Source »

...unpopular among economists and, according to polls, the American public. In a recent poll, 55 percent of Americans indicated that they do not favor bailing out private companies using taxpayers’ money, which is what this $700 billion purchase of mortgage-backed securities composes. Investors George Soros, Carl Icahn, and Jim Rogers, as well as about 200 university economists—including several from Harvard—are a handful of those who have vocally denounced Paulson’s bailout plan. Possibly more disturbing than the economic flaws of the program are the ethical issues. As the former...

Author: By Nafees A. Syed | Title: Hank Paulson: CEO of America | 9/29/2008 | See Source »

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