Word: direness
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...Simon Johnson, a former chief economist of the International Monetary Fund who teaches at the Massachusetts Institute of Technology and whose blog, Baseline Scenario, has become essential reading for crisis buffs. The Federal Reserve and Treasury left creditors at Lehman Brothers adrift in September, and the repercussions were so dire that regulators resolved not to let such a thing happen again...
...Presumably the slashing of J-term ambitions has resulted from the financial difficulty in which Harvard has suddenly found itself. However, if economic concerns are truly so dire as to threaten even the freedom to remain in the dorms next January, Harvard should instead consider cost-saving alternatives like closing the dining halls during this month or heating the Houses on a per-room basis. Given financial constraints, we understand if the College cannot fulfill student expectations next year of a J-term complete with limitless possibilities. But, by neither allowing students to remain on campus nor facilitating any educational...
Zeckhauser’s departure comes as the University finds itself in dire financial straits, potentially posing a challenge to both daily operations and long-term projects, including the much awaited $1 billion renovation of the 12 undergraduate Houses...
...correct in asserting that “the responsibility of the board is to oversee the welfare of the corporation, and the newsroom cannot dictate financial, nor personnel policy.” However, it is entirely unclear how the proposed reforms would help the paper’s dire financial situation. The board has not clearly explained how paying an outside source a substantial salary to control the direction of the newspaper will provide financial benefit. This expenditure does not seem likely to help the Emerald in any respect...
...wish he had never gotten. His reputation has not recovered from the allegation last year that he received a sweetheart deal on his mortgage, saving upwards of $75,000 courtesy of Countrywide, one of the biggest pushers of the subprime mortgages that have landed the U.S. economy in such dire straits. Connecticut officials say there is no evidence of wrongdoing, and Dodd, who has allowed reporters limited access to his mortgage documents, denies he got any preferential treatment and insists he is going to refinance with a different bank. (Dodd allowed reporters one-time access to hundreds of pages...