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...that, by and large, was how the biggest players in the financial-services sector acted in the run-up to the crisis. Taking on risk from instruments like credit-default swaps and collateralized debt obligations (CDOs) was treated as a profit center, often with little oversight of the mathematical models that spit out numbers about what it was all worth. The models proved spectacularly wrong because they precluded the possibility of an outsize event. Once big shocks, like declining home prices, started hitting, the models broke down. According to a report by a group of U.S. and international regulators, while...
...answer: special effects! Election night captured in miniature the brilliance and ridiculousness of election 2008 in the media. NBC painted an electoral map on New York City's Rockefeller Center skating rink and stood its hosts in front of enough virtual Greek columns to stage a hundred Obama rallies; 3-D graphics sprouted out of studio floors and hung in the air; and CNN unveiled the most amazing and goofy innovation, 3-D projections of studio guests speaking to the network's anchors like Princess Leia asking Obi-Wan for help in Star Wars. Anderson Cooper ended an interview with...
...standing at the center of these questing characters was Dunham, a Maypole in a business suit and sensible shoes. When her husband went to war, Dunham went to work on a bomber assembly line. When her daughter had a baby and dropped out of college at 18, Dunham got a job at a bank, becoming the family's primary breadwinner. When Obama's mother returned to Indonesia, a teenage Obama wanted to stay in Hawaii; Dunham made space for him in her small Honolulu apartment. She was "the one who taught me about hard work," Obama said, accepting his party...
With a powerful performance by special teams, the No. 18 Crimson men’s hockey team knocked out a 3-1 victory over Rensselaer (1-5-1, 0-1 Ivy) last night at Bright Hockey Center, killing nine penalties to beat the Engineers. Harvard (2-0, 2-0 Ivy)has now recorded its second conference win before most of the ECAC teams have even had a chance to compete in a league match...
...their increased interest in politics. Although concrete numbers are not yet available, exit polls indicate a significant jump in youth turnout. Between 22 and 24 million ballots were cast by young voters, amounting to at least a 2.2 million increase from 2004, according to Tufts University’s Center for Information & Research on Civic Learning and Engagement. H-VOTE, an Institute of Politics program that helped students register in their home states and obtain absentee ballots, reported a four-fold increase in the number of voters it registered compared to 2004. Two thousand and seventeen students registered or pledged...