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TIME.com See time.com/global for more on junk bonds, and see Dan each Tuesday on CNNfn's MoneyGang...
...With reporting by Michael Duffy/Washington and Frank Gibney, Dan Kadlec and Eric Roston/New York
...bill also gives states the crucial task of defining "proficiency": what score do students need to pass the tests? If the bar is set too low, the legislation will be meaningless. But there's also a risk in demanding too much. Warns Dan Koretz, a Harvard education professor who specializes in high-stakes assessments: "If the bar is set too high, it becomes impossible to meet by legitimate ends. There will be enormous pressure to take short cuts. You'll see a dangerous over-emphasis on test preparation and cheating...
...First we had to convince ourselves that we didn't need to rely on [graduated senior] Dan Clemente's presence. I think we're over that hump. The next thing is convincing ourselves that we can still play good, quality basketball if Pat is indeed not having a good shooting night," Sullivan said...
...DAN GOODGAME directs TIME's coverage of business and the economy, including this week's story on the spectacular collapse of energy-trading firm Enron and a special report on the 25 most influential global business leaders, available on TIME.com at time.com/influentials Chat with him live on Monday...