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...seen this movie before, and it's not a happy one. Japan's financial sector imploded in the 1990s as bubbles in real estate and stock prices (sound familiar?) burst. Eventually, Japan's central bank drove interest rates to near zero to stimulate the economy. But it was, as the economists say, "pushing on a string." Banks were reluctant to lend because they needed to hoard capital to repair their balance sheets - just as they need to do now in the U.S. Economic growth slowed, and demand for the credit that was available diminished. The result was Japan's infamous...

Author: /time Magazine | Title: Living in a World with Less Credit | 10/23/2008 | See Source »

...windows and doors every time it stopped.” While most shuttle drivers have positive relationships with their frequent passengers, they are often the unintentional sources of terror and/or nausea. “One time, the driver was explaining to me why she hated the way taxi drivers drove,” says Currier resident Delia A. Pais ’10. “She demonstrated this by braking all the time intermittently. She halted every three feet all the way down the street, jerking me and the passengers back and forth. It was weird...

Author: By Julia M. Spiro, CRIMSON STAFF WRITER | Title: Shuttle? More Like Shittle! | 10/22/2008 | See Source »

...mind, and that's the worst kind of person," says his sister Susanne McGraham-Paisley of the suspects, who remain at large. "I hope they give them the full scope of the law because that person went to a gas station, filled up the gas can, drove to the site, poured gasoline on him and then set him on fire. That person had so many opportunities to change [his] mind and ... didn...

Author: /time Magazine | Title: Violence Against the Homeless: Is It a Hate Crime? | 10/22/2008 | See Source »

...game, freshman back Georgia McGillivray ripped a shot that was blocked by Big Red goaltender Melanie Jue. Freshman midfielder Carly Dickson swooped in for the rebound but sent it just wide of the near post. Roughly 10 minutes later, the Crimson had another opportunity. Sophomore midfielder Chloe Keating drove into the circle from the right hand side of the goal and passed the ball to Romanelli. The senior took a shot from close range that was blocked by Jue, but the ball trickled away from her. Freshman forward Allie Kimmel got two shots off of rebounds, but Jue stopped both...

Author: By Timothy J. Walsh, CRIMSON STAFF WRITER | Title: Harvard Winning Streak Halted at Four | 10/19/2008 | See Source »

...McCain Drove into a House Republican Wall. At the height of the financial crisis, John McCain took a big, and many would say ill-advised, risk, announcing he was suspending his campaign and even threatening to skip the first debate to get "in the arena," as his hero Teddy Roosevelt put it. He returned to Washington and attempted to demonstrate a type of leadership on the financial crisis that would distinguish him from Obama's more hands-off approach. The effort to help craft a bipartisan bailout plan had muddled results, mainly because McCain's influence among House Republicans...

Author: /time Magazine | Title: McCain's Struggles: Four Ways He Went Wrong | 10/17/2008 | See Source »

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