Word: certaines
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...shed some light on the financial meltdown. Increasingly, we as human beings create systems that are more complex than we can comprehend. If you're designing an airplane you create redundancies to try to mitigate bad outcomes, but as we saw earlier this year with Air France 447, when certain cascading events line up, they can lead to a disaster that you just can't anticipate. In the realm of the social, we create institutions like global, interconnected markets. By and large when investors are operating with some degree of diversity, when they're thinking about things differently - time horizons...
...What does that mean for regulation? You can set up certain decision rules that try to keep people on the straight and narrow, but too much regulation about the details is going to get you in trouble. The big banks should probably be fairly boring and reasonably well regulated. And their core businesses are - but they were able to get away from their core activities and move further out on the risk spectrum and jeopardize the whole operation. So much more stringent capital requirements for banks as they get larger, to make sure that as they get larger they...
Although the Class of 2027 can still not be certain of having hot breakfasts, they can now rest more assured knowing they will probably not be living in walk-throughs during their time at Harvard. The College administration renewed its commitment to start its 15-year project to renovate the upperclassman houses by 2012 this week. While seemingly everything else at this university is suffering from cutbacks as a result of the budget hardships brought about by the financial crisis, it’s encouraging to see that this project will continue on schedule...
...waters a few times per year to try to improve our understanding of how, when and why earthquakes hit. But the technology they use to do that - long submersible cannons called airguns - has drawn loud criticism since the 1990s from marine-mammal experts. They say firing airguns in certain waters and at certain times of the year can be extremely harmful to a long list of sea creatures, including dolphins, whales, porpoises, giant squids, crabs and sea turtles. The noise the guns generate causes some animals to flee their native habitat, says Naomi Rose, senior scientist with the Maryland office...
...oppose the income tax? -Mike Phillips, Madison, Wis. Because I have a right to the fruits of my labor, and government does not. If you concede the principle of the income tax, you concede the principle that the government owns all your income and permits you to keep a certain percentage of it. God-given rights to our life and our liberty don't come from government...