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...experts in and out of government expect bank failures to accelerate. Banks that are too big to go under, like Citibank and Bank of America, could fail but will stay alive in one form or another - through a bailout or government-backed sale, for example. But plenty of medium and smaller banks are going to disappear or be divvied up by creditors. And the longer Paulson's new capital-infusion plan takes to get up and running, the higher the likelihood of failure will...
...bailout is breathtaking for its scale. British taxpayers are on the hook for a $34 billion investment in the Royal Bank of Scotland (RBS), Britain's second-largest lender, a cash injection amounting to almost double the bank's current market capitalization. Most of the investment will take the form of ordinary shares, which private investors are invited to purchase along with the government. But under the deal, those shares yield no dividends until the government recoups its stake, which it will hold in non-voting preference shares. So no one is expecting many private takers, leaving the government shouldering...
...subconscious. Fundamentally rooted in improvisation, it is largely up to the interpreter to set the mood of the dance. Lam was both desperately somber and charmingly lighthearted, and his unmatchable plasticity gave way to extraordinarily sketched patterns in the air.One of the fireworks came early, in the form of an excerpt from the “Rubies” section of George Balanchine’s full-length plotless ballet “Jewels.” Considered the crown of Balanchine’s jazzy, bold, American-inspired works, it fits its Stravinsky score like a glove. Misa Kuranaga...
...Epps’s day has disappeared but “Community Conversations” remains, albeit in a slightly altered form. Over the past few years the pieces shifted toward equally pressing issues for freshmen, like perfectionism. However, following 2007’s “Quad Incident,” in which a group of black students were questioned by the Harvard police, the Freshman Dean’s Office seems to have decided that the readings needed to be refocused radically. In the process, it produced a program that consciously rejected not only Epps?...
...outrage in Europe and, ultimately, sanctions from the European Union when the party was invited to join the government. Haider never held national office himself, preferring instead to work behind the scenes from his post as governor of Carinthia. Several years ago he split with the Freedom Party to form the Alliance for the Future of Austria. The Freedom Party's new leader is a former Haider protege named Heinz-Christian Strache, who is 39. In the most recent campaign, both parties did especially well among young Austrians. Nearly 50% of those under 30 supported one of the far-right...