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...specifically in the realm of stocks. Barron compared the hypothetical reactions of one investor who had experienced a significant downturn in the distant past with a new investor who hears about the downturn as part of a set of information. “Both people would obviously have some concern, but this information is more salient for the new investor who receives a description of the event,” Barron said. “For the investor who experienced this in the past, it’s more important that since then, things have been better...

Author: By Prateek Kumar, CRIMSON STAFF WRITER | Title: HBS Prof Studies Gambler's Fallacy | 10/27/2008 | See Source »

...McCain’s choice of running mate as the reason he cast his absentee ballot for Obama, who graduated from the Law School in 1991. Fried will also resign from his post on the McCain Campaign’s Justice Advisory Committee. “Professor Fried is concerned about the choice of Sarah Palin when the nation is in crisis,” law professor and Obama adviser Cass R. Sunstein ’75 said in an interview on Friday. “I think his view is that at this time, the prospect of Governor Palin...

Author: By Athena Y. Jiang, CRIMSON STAFF WRITER | Title: McCain's Ex-Aide To Vote for Obama | 10/27/2008 | See Source »

...even the current deficit, as big as it is, that causes so much concern, says Walker. The deficit merely represents the amount that government spending exceeds its revenues in a given year. A far bigger concern is the national debt - the total of what we've cumulatively borrowed to finance those yearly deficits. Sometime around 2020, according to projections offered by Walker's foundation, the U.S. debt will be equal to or greater than annual gross domestic product - a situation not seen since 1946 at the end of World War II. Worsening the picture is the fact that much...

Author: /time Magazine | Title: Does Anyone Care About a Trillion Dollar Deficit? | 10/25/2008 | See Source »

Despite Walker's best efforts, voter resistance to deficit spending may be on the wane. "We're going to see an evaporation of concern about fiscal restraint simply because the threat of an economic collapse is so great," said Robert Reischauer, president of the Urban Institute. "Policymakers are not going to adhere to the restraint that they know in their heads we need but in their hearts can't bring about...

Author: /time Magazine | Title: Does Anyone Care About a Trillion Dollar Deficit? | 10/25/2008 | See Source »

...reading. The NIE represents the consensus of the 16 U.S. intelligence agencies, and according to a McClatchy newspapers report, an official familiar with the contents of the document that will brief the next President says it warns that Pakistan has "no money, no energy, no government". Washington's primary concern remains al-Qaeda, which John Kringen, the CIA's director for intelligence, recently described as being "resurgent" and "well-settled" in Pakistan's tribal areas. But the presence of Bin Laden's group is enabled by an indigenous militant insurgency - the Pakistan Taliban - and Pakistani leaders remain divided over...

Author: /time Magazine | Title: Time and Money Running Out for Pakistan | 10/25/2008 | See Source »

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