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...fact, the SEC proposed a version of that in July. The agency suggested changing a number of its ratings-based regulations since the use of the NRSRO designation "may have encouraged investors to place undue reliance on the credit ratings issued by these entities." One example: money market mutual funds, which are currently only allowed to hold high-grade paper. High-grade - as defined by the ratings agencies. In comments responding to the proposed rule change, sellers of money market funds balked at the idea of not being able to use the ratings agencies' opinions...

Author: /time Magazine | Title: How to Fix the Credit-Ratings Agencies | 3/23/2009 | See Source »

...Gregg may not be correct and his point of view may make him an outlier. But there is no denying the fact that there has been almost no time spent in the Congressional conversation about what could happen to the budget if either the revenue or expense assumptions at the core of the Administration or CBO analyses are wrong by a substantial margin. The projections of GDP growth only have to be a percent or two too low for deficits to go up by hundreds of billions if not trillions of dollars over the next decade. Not a single page...

Author: /time Magazine | Title: Senator Gregg and the Princes of Anarchy | 3/23/2009 | See Source »

...average American consumes more than 200 lb. of meat a year, a habit that comes at considerable environmental cost, Popkin says. He cites a recent United Nations Food and Agriculture Organization finding that livestock account for 18% of global greenhouse-gas emissions - more than transportation - and underscores the fact that the livestock industry uses up to five times the water necessary to cultivate crops. (See the top 10 food trends...

Author: /time Magazine | Title: The Growing Case Against Red Meat | 3/23/2009 | See Source »

...hometown. "We often try to take the story further but it starts with the local papers or their websites." He notes that while there are many bloggers in Seattle, that's not the same as reporters. "My concern is that there will be more opinion and less fact-based reporting...

Author: /time Magazine | Title: What Happens When a Town Loses Its Newspaper? | 3/22/2009 | See Source »

...Harvard resurrection did not last long—only about 20 minutes, in fact. The Crimson entered the second half well in contention, down just 32-29, but what had been shaping up to be a hotly-contested battle quickly devolved into a blowout...

Author: By Loren Amor, CRIMSON STAFF WRITER | Title: WEB UPDATE: St. John's Storms Past Harvard in NIT First Round | 3/21/2009 | See Source »

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