Word: crisises
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Last week, Federal Reserve Chairman Ben Bernanke said the recession is probably over. But that hasn't halted the Treasury Department from continuing to dole out billions of dollars to financial firms. The latest installment came two weeks ago, when the Treasury sent nearly $75 million from the Troubled Asset...
But the government's continued assistance to the financial sector comes at a time when the prospects of many banks are improving and most economists believe the financial crisis has largely ended. Earnings at a number of large banks are rising again, and some smaller banks have been able to...
"There was never a good economic rationale for bailing out smaller banks," says Vincent Reinhart, a fellow at the American Enterprise Institute and a former top Federal Reserve economist. "Extending the program only compounds the mistake." (See 25 people to blame for the financial crisis.)
See pictures of the global financial crisis.
Harvard signed an agreement with the government of Chile last week that would provide enough financial support to nearly double the number of Chilean students across the University’s graduate schools to a total of 50 students. “When a bright student needs money, he or...