Word: foundings
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...lessons present themselves. First, our complex financial system is awfully fragile. Second, government action is capable of keeping a financial panic from snowballing into a complete economic disaster along the lines of the Great Depression. Third, the government has - in large part because of its success in averting disaster - found it difficult to take any actions that would make the financial system less fragile in the future. That would, apparently, be too much government intervention...
...government's biggest boo-boo - started a chain reaction. There was a run on money-market funds after one big money-market fund revealed that it owned a lot of suddenly worthless Lehman debt. London-based hedge funds that relied on Lehman for day-to-day financing found themselves unable to do business because their accounts with Lehman's U.K. subsidiary were frozen. Similar dislocations played out around the world. Before long, financial institutions were paralyzed by fear. They simply didn't trust each other anymore, and didn't want to lend to each other. The financial system proved...
Scientists make up the bulk of the other award winners: Dee Boersma, a marine biologist at the University of Washington who found that the effects of climate change force penguins in Antarctica to swim 25 extra miles for food, putting them in greater danger of extinction. Ashok Gadgil, an environmental engineer at the Lawrence Berkeley National Laboratory, won for inventing simple, inexpensive water-purification systems and stoves for use in the developing world. Kirk Smith, a scientist at the University of California, Berkeley, was recognized for his work connecting indoor air pollution - mostly from cooking - to the premature death...
...Diggity Dogger” and a rolling backpack in which you can carry your dog. Somewhere in between the 24-karat gold copies of Lord of the Rings paraphernalia and the life-sized gorilla lawn ornament, Our Assistant to the Associate Hero must have found neon-colored metal lawn chairs left over from the set of Alice in Wonderland. Foreseeing the benefits for Cambridge townies who can’t all fit into Lamont and Café Gato Rojo, Harvard decided to order one hundred. Thank God that Assistant to the Associate picked up a copy of Sky Mall...
...barren landscape of rush-in and rush-out. The naysayers among us critique the chairs as tacky carnival props that cheapen the prestige of Harvard Yard antiquity. But those people clearly don’t realize that these fine pieces of art were modeled after those same butt-warmers found in the Jardin du Luxembourg of Paris. Hellooooo, if anything, the chairs heighten the elitist aura that we know and love. In these tough economic times, it’s the little things that count. As long as Harvard doesn’t paint John Harvard’s chair...