Word: greenspans
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...weeks earlier in the semester, Francisco Aguilar ’05, president of the Social Enterprise Club, and Aaron J. Greenspan ’05, president of the new Student Entrepreneurship Council, battled to enter the SEC acronym for their respective clubs in Harvard’s official registry of student groups. “SEC is more than just letters—it’s letters that stand for something,” says Aguilar...
These two groups, with similar missions and even more similar names, have since resolved their differences, with Greenspan deferring to history and agreeing to let the older Social Enterprise Council keep the acronym. FM invited the presidents of both clubs to try to bury the hatchet over a friendly game of Boggle (FM’s official board game...
Playing under modified Boggle rules, Aguilar and Greenspan searched the board for acronyms. After one minute of fruitless searching, the Boggle board was re-shaken and they began to play under standard rules...
LEVKOVICH: Let's understand what's happening. In May, [Alan] Greenspan got up in front of Congress and said he will use nonconventional tools to fight deflation. Bond prices soared, and yields plunged, because that meant if worse came to worst, the Treasury would buy long-term bonds. Then in testimony in July he basically took that promise off the table, and everyone sold Treasuries...
...Greenspan is clearly worried that the bond mavens' expectations for a solid recovery is premature. Last Tuesday the Fed met and not only held its benchmark Federal Funds short-term rate at 1% (a 45-year low) but also took the unprecedented step of saying it would leave the rate there "for a considerable period." The Fed hates to be boxed in. It desperately wanted bond investors to follow the lead. They didn't. A sell-off in Treasury bonds that began in June persisted, pushing bond prices down and yields up. The yield on the closely watched 10-year...