Word: failings
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...plane payments?" No. They call up and shriek about systemic risk. Come on. Investment banks have been going bankrupt for hundreds of years and the world has still somehow survived. This approach has never worked. This is what the Japanese did in the 1990s. They refused to let anyone fail. And they had zombie banks and zombie companies. The way the system is supposed to work is when we have bad times, the assets moves from the incompetent to the competent, and then the competent start with renewed strength and the system rebuilds itself...
...otherwise excellent column, Klein made a significant omission. The reason employer-based insurance is failing is not that employees fail to act in their enlightened self-interest or that employers are "slouching away from that responsibility." Costs have risen to the point that most employers cannot afford to provide insurance, and individuals cannot come up with the $27,000 a family must pay on average for annual coverage. The only long-term solution is to eliminate insurance companies through a national single-payer health plan, or "Medicare for all." Without the profit motive and with Medicare's demonstrated efficiency, enough...
...hosted by the Harvard College Entrepreneurship Forum. “It’s all about getting started,” he said. “There are a lot of statistics, but an important one is that 100 percent of start-ups that don’t start fail,” he said. Wenger also spoke about the difficulties associated with start-ups in particular. “Being able to handle failure well is an entrepreneurial requisite,” he said. Shankar G. Ramaswamy ’11 said he found Wenger’s words...
...transition current students to the new four-tiered pass/fail grading system yesterday. Under the transition scheme, first-year students will receive grades of “Honors,” “Pass,” “Low Pass,” and “Fail,” as stipulated by the new system in all their courses, starting this semester. Third-year students will finish their last year under the old system, which has nine categories spanning A+ to F. Second-year students, whose fate in the transition was most uncertain, will graduate with...
...financial field when it comes to big bucks and celebrity authors. Within a span of 48 hours, Penguin imprints scooped up three of the hottest gets, shelling out millions in advances. Andrew Ross Sorkin will write a behind-the-scenes account of the Wall Street crisis, Too Big to Fail, for Viking, while his New York Times colleague Joe Nocera, along with Vanity Fair contributing editor Bethany McLean, will do a long-term take on the crisis for Portfolio, with their advance rumored to be as much as $1.6 million. Roger Lowenstein, contributing writer for the New York Times Magazine...