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...ability to determine the risk of a particular type of loan. After a merger in 1998 that formed the bank, BofA officials often argued to investors and regulators that these new advanced risk controls meant the bank needed to carry less capital per loan. The officials also frequently fought regulations that would boost capital requirements for them and other banks. In 1998, BofA asserted that tying capital requirements to credit ratings, which would have required banks to hold more funds in the vault to account for the riskiness of subprime loans, was silly...

Author: /time Magazine | Title: Why Your Bank Is Broke | 1/31/2009 | See Source »

...Senate leadership aide. "He gets to seem presidential and bipartisan at relatively little cost." The more items that get taken out, the better chance Obama has to gain Republican support for the bill. In this scenario, Republicans would get to claim victory as well, telling their constituents that they fought the good fight in the name of fiscal conservatism. "We were going to lose no matter what," the aide said. "This bill will pass. The better it is, the less we lose...

Author: /time Magazine | Title: The Stimulus Bill's Bumpy Ride | 1/30/2009 | See Source »

...great friend Kay Yow, the Hall of Fame basketball coach who died at 66 on Jan. 24 after a long, courageous fight with breast cancer, just had a way of dealing with the disease. She fought it for more than two decades--Kay got her first diagnosis in 1987--but never played the pity role. She always gravitated to other people and asked them how they were holding up. Kay wanted to help others with their battles, even though she was fighting the toughest...

Author: /time Magazine | Title: Kay Yow | 1/29/2009 | See Source »

...government to provide election security may not depart after the votes are counted. "I'm worried the Iraqi army won't leave. Then the Peshmerga won't leave. Then we will have a militarized city," the Kurdish mayor of Khanaqin, who asked to remain unnamed, warned. "What if they fought...

Author: /time Magazine | Title: Iraq's Election Fuels Tension on Kurdish Fault Line | 1/28/2009 | See Source »

...well as two major decisions exposed a difficult return to the mat for the Crimson. Even 7th-ranked Caputo (19-4) dropped a frustrating bout, watching victory slip away in the waning moments of the third period.Despite his injured shoulder, Caputo built a 2-0 lead through two hard-fought periods before yielding an escape to No. 15 David Craig. Trailing 2-1, the Mountain Hawk junior managed a takedown with eight seconds remaining to upset the Crimson standout and hand Caputo only his fourth loss this year.Even though the team effort fell short, O’Connor continued...

Author: By Max N. Brondfield, CRIMSON STAFF WRITER | Title: Tough Opponents Hand Harvard Dual-Meet Losses | 1/27/2009 | See Source »

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