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...Scout shooting cans at the county dump has got more military training than these guys.' GEORGE CLARKE, a lawyer for Anwar Hassan, one of 17 Uighurs who languished for three years at the Guantánamo Bay detention facility before the island nation of Palau agreed to temporarily resettle the Chinese Muslim group...
...effectiveness. Its two Republican members complain that the panel has drifted away from its core mission under Warren's leadership and spends too much time editorializing on the plight of middle-class families, the focus of Warren's academic research. Her relationship with Treasury has been rocky. She got into a low-level war with former Treasury Secretary Henry Paulson and his staff over their perceived unwillingness to share information, and she had a shaky start with Geithner, who didn't seem to take the panel seriously at first. In an "Additional View" filed with the panel's June report...
...always a writer. When I went to college and majored in fine arts, I was a painter. Then I was a stay-at-home mom. Somewhere along the line, I realized that I liked telling stories, and I decided that I would try writing. Ten years later, I finally got a book published. It was hard. I had no skills. I knew nothing about the business of getting published. So I had to keep working...
Well, maybe not the whole edifice. For all its flaws, Fisher's economic approach delivered genuinely important insights. He proposed in 1911 that the government issue inflation-linked bonds; in 1997, the Treasury Department finally got around to doing so. If anybody in power in Washington had been willing to follow his advice in 1930 or '31 (which essentially amounted to "Print more money"), the Great Depression might not have been so great. For the past two years, the Federal Reserve has been working right out of the Fisher playbook, and while the results haven't been perfect, they...
...stock-market crash gave Shiller and Summers all the ammunition they needed. "If anyone did seriously believe that price movements are determined by changes in information about economic fundamentals," Summers said just after the crash, "they've got to be disabused of that notion by Monday's 500-point movement." The crash also demonstrated that prices didn't follow the statistical model of a random walk--if they did, a 20% one-day market drop like that of 1987 should happen only once in billions upon billions of years...