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Irrational Exuberance may have come out just as the market peaked in 2000, for example, but Shiller had actually begun voicing his worries about high stock prices years before. Fed Chairman Greenspan got an earful from the economist a few days before making his "irrational exuberance" speech in 1996 suggesting the market was overvalued. But prices kept rising, and Greenspan concluded that he shouldn't try to outguess the market. Other economists have since shown that acting on Shiller's bearish advice then would have cost an investor big gains over the subsequent decade. One man was no match...
...experts caution that families shouldn't expect to see most financial-aid packages rise to the level of Harvard's largesse anytime soon. Over the past few years, Congress has gotten fed up with wealthy schools hoarding their enormous endowments - Harvard's reached $35 billion last year - while still regularly raising tuition prices. The average tuition and fees at private four-year colleges rose 14% in the past five years, according to the nonprofit College Board; the increase was 31% at public schools. Fees themselves at many public universities are skyrocketing, even as tuition holds more or less steady...
...Palin that the world was waiting for, at the climax of a media frenzy that Team McCain gleefully fed. Seldom has a candidate arrived for a showdown with curiosity so high and expectations so low. Earlier in the day a phalanx of powerhouse Republican women had gathered to denounce the "outrageous smear campaign" against Palin. They were "enraged," "insulted," "offended" by the questions raised about her qualifications or decision to take on the race while having five kids. Palin rolled right on down the tracks they laid. In a few short days, she said, she had learned that...
Paul Perry is fed up with Chicago's public schools. So much so that he's transferring his 13-year-old daughter, Knighta Jane, to a school in a nearby suburb where her mother lives. He worries that Knighta Jane will be missing out if she stays put in her neighborhood school. "How can we expect our kids to compete on an equal playing field with kids at suburban schools?" the animal-care technician asks, pointing to public schools like those in nearby Winnetka, an affluent suburb that spends as much as 70% more per pupil than Chicago does...
...vent their considerable frustrations. Between drags of a Seneca menthol cigarette, Andy Colón, a lifelong Democrat who was raised in New York, works in construction in Colorado Springs and volunteered much of this past spring for Clinton, said he's lost faith. "Am I disgusted and fed up with the Democratic Party? You better believe it," Colón said...