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...assets. Also this week, investor Warren Buffett said in a CNBC interview that he would favor suspending the mark-to-market rules. Even the Securities and Exchange Commission (SEC), which has long backed these rules, recently asked the Financial Accounting Standards Board (FASB), a private group based in Norwalk, Conn., that sets accounting rules in the U.S., to look into the matter. FASB spokesman Neal McGarity says his organization is doing that, but the banking industry is skeptical and wants more pressure from the SEC. "SEC is refusing to act further on this issue," says Scott Talbott, a top bank...
Byron Wein was senior investment strategist at Morgan Stanley until 2005, when he left to join Pequot Capital Management, a hedge fund in Westport, Conn. Each December, Wein forecasts 10 possible surprises for the year ahead, events that may not be on Wall Street's radar but nevertheless have good chance of occurring. His prescience on market issues has won him a wide following. In an interview with TIME contributing editor John Curran, Wein reviews his 2009 list and opines on the stock market's prospects...
...HAVEN, Conn.—This is what is referred to as “going out on a high note.”In the final game of the Harvard men’s basketball season—which doubled as the last games of the collegiate careers of seniors Andrew Pusar, Drew Housman, and Evan Harris—the Crimson turned in one of its best performances of the season to down archrival Yale, 69-59, at John J. Lee Amphitheatre on Saturday.The triumph over the Bulldogs (13-15, 8-6 Ivy) was especially sweet for the three...
...HAVEN, Conn.—Fresh off a heartbreaking loss to Brown the night before, Harvard had no urge to be merciful in its season finale, upstaging Yale’s senior night with an impressive showing from both the Crimson’s veterans and its rising freshmen...
...Dodd's decision to move his family to Iowa in 2007 to lay the groundwork for what would end up a short-lived presidential campaign didn't endear him to his constituents either. "How can he identify himself as D-Conn. when he lives in Iowa?" asked a Connecticut Post editorial at the time. In the Quinnipiac poll, Dodd's approval ratings came in at a dismal 41%; that makes him even less popular than Joe Lieberman, the independent junior Senator who left the Democratic Party after losing his primary race and then crossed what was left of his party...