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...based on their experience, Japanese analysts believe that actions to date have been insufficient. They say that in addition to the U.S. Treasury Department's plan to spend $700 billion buying bad assets from banks, the government also needs to recapitalize banks using taxpayer money. Only then will confidence in the financial system return, ending the current paralysis in lending that threatens the entire economy. "Taking nonperforming loans out of the balance sheets is not enough," says Jun Saito, director general of the economic-research bureau for Japan's cabinet. "What we've learned [in Japan] from the 1990s...

Author: /time Magazine | Title: Lessons From Asia's Last Meltdown: Act Fast | 10/10/2008 | See Source »

...Bamboozling the "Blind" Much Jewish ethical thought flows out of Leviticus 19:14, which reads "Thou shalt not curse the deaf, nor put a stumbling-block before the blind." From an early date, rabbis expanded this into a general prohibition on bad advice. In time, it became part of the language specifically regarding loans, mostly regarding the need for witnesses. But Diamond says it now applies to the whole loan debacle and "any expert who tells someone who probably shouldn't take out a mortgage 'you'll be able to do it, no problem.'" There are a lot of financially...

Author: /time Magazine | Title: The Financial Crisis: What Would the Talmud Do? | 10/10/2008 | See Source »

Yesterday’s correspondence offered the most specific example to date of the increased responsibilities of the divisional deans—the cross-departmental administrators whose role Smith pledged to enhance last year...

Author: By Christian B. Flow, CRIMSON STAFF WRITER | Title: Smith Letter Looks At Reorganization | 10/10/2008 | See Source »

...Record to Date...

Author: By Loren Amor, CRIMSON STAFF WRITER | Title: AROUND THE IVIES: Ho Back To Lead Crimson Attack | 10/9/2008 | See Source »

...post-9/11 New York to the resolve of the passengers of the Arbella. The book could just as easily be a conversation with the author herself.“The Wordy Shipmates” is a gem, and Vowell’s ambitious and rewarding work to date. Unlike her contemporaries Bill Maher and Lewis Black, who use a skewed view of American history to point out its flaws, Vowell exhibits a deeply sympathetic perspective for American figures both past and present, and in doing so, she evokes the same in her audience. —Staff writer Ryan...

Author: By Ryan J. Meehan, CRIMSON STAFF WRITER | Title: Vowell Discovers Timeless Humor in U.S. History | 10/9/2008 | See Source »

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