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...would create stability. In fact, over the past 30 years, market economies have faced more than 100 crises. That is why I and many other economists believe that government regulation and oversight are an essential part of a functioning market economy. Without them, there will continue to be frequent severe economic crises in different parts of the world. The market on its own is not enough. Government must play a role...

Author: /time Magazine | Title: Nobel Laureate: How to Get Out of the Financial Crisis | 10/17/2008 | See Source »

...mortgage brokers loved these new products because they ensured an endless stream of fees. They maximized their profits by originating as many mortgages as possible, with frequent refinancing. Their allies in investment banking bought them, sliced and diced the risk and then passed them on - or at least as much as they could. Our bankers forgot that their job was to prudently manage risk and allocate capital. They became gambling casinos - gambling with other people's money, knowing that the taxpayer would step in if the losses were too great. They misallocated capital, with massive amounts going into housing that...

Author: /time Magazine | Title: Nobel Laureate: How to Get Out of the Financial Crisis | 10/17/2008 | See Source »

Harvard College Democrats President Jarret A. Zafran ’09 said he was contacted by Mark Gall, the president of the Italian organization, who told him that the group wanted to use their collected frequent flier miles to send Harvard Democrats to campaign for Obama...

Author: By Lauren D. Kiel, CRIMSON STAFF WRITER | Title: Dems To Fly to Raleigh for Obama Care of Italian Political Group Donations | 10/15/2008 | See Source »

...wary of people who take their freedom too far. "I get hit on a lot," reports Jennifer Kelton, frequent flyer and founder of BadOnlineDates.com, "especially by married men. I have so many CEOs' business cards, and almost all of them were [from men] wearing a wedding band. It's really quite sad." For the record, Kelton says, she's never taken any of them up on their offer...

Author: /time Magazine | Title: Can't Find Love at Home? Travel | 10/14/2008 | See Source »

...between them, Nikki is not coming back. Pat’s forthright manner of speech can, at times, border on the offensive, especially when he talks about his friend from the mental institution, whom he always describes as “my black friend Danny.” He frequently uses expressions that, he explains, he learned from “my black friend Danny,” such as “hating on me” and “got nothin’ but love for ya.” The only other person of color...

Author: By Rachel A. Burns, CRIMSON STAFF WRITER | Title: Quick's Book Is a Few Plays Short | 10/9/2008 | See Source »

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