Word: downturned
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...structure. In addition, the council has been discussing the recent economic crisis and its effects on students, particularly in light of the current recruiting season. But Dean of the College Evelynn M. Hammonds said she has not heard of students with specific family problems stemming from the downturn. Finally, election results for the parliamentarian, who runs the proceedings for the faculty meetings, will be announced soon, according to FAS spokesman Robert P. Mitchell. Official word cannot be given until the chosen candidate has been informed of his or her appointment. —Staff Writer Benjamin M. Jaffe...
...global insurance company whose near-collapse some feared would send the financial system into a tailspin. The headline-grabbing failures follow a year-long financial decline, caused by unexpectedly high rates of home loan defaults that tore through the economy and wiped out billions in capital. The downturn accelerated in recent months as lenders spooked by steep losses and high-profile bank failures have tightened their purse strings. Worried that recent high-profile failures could spread and freeze financial markets, Treasury Secretary Henry M. Paulson Jr. announced the plan now under consideration to bolster confidence in U.S. financial institutions...
...while France is hardly protected from the downturn - the Paris CAC 40 stock index dropped 2.3% Monday after the French government nearly halved its 2009 growth estimates to 1% - at least one factor might limit the damage to a degree. In the course of the last 15 years, which saw a boom in France's real estate values, no lender would grant credit to an applicant with more than a 33% debt-to-income level. French banks have also always favored fixed-rate mortgages over more enticing but perilous variable-rate loans. The French real estate market is slowing...
...long run, however, the rational conclusion is simple. Just like in the past, the U.S. government remains unwilling to withstand a downturn in house prices. As every investor knows, past performance is no guarantee of future performance; yet past performance does remain a powerful market sign. Regardless of the tragic fate of Lehman Brothers, this seems like a perfect time for foreign investors to get some exposure to U.S. real estate. For if something were to go wrong, history suggests some sort of bailout will protect them, and none other than the American taxpayer will foot the bill. Despite...
Although the Wall Street crisis might have job-seekers in a panic, Harvard’s Office of Career Services (OCS) is countering the downturn with a new philosophy and a new interim director, Robin Mount. Many graduating seniors are nervous about the weak economy this year, as there is sure to be a reduction of job openings in the popular finance sector (last year, 20 percent of graduates went on to work in financial services or management consulting ). Fortunately, well before the economy’s recent plunge, OCS had already begun work on this year?...