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Paul Schulte, a former Lehman Brothers star analyst who is now with Japan's Nomura (which took over bankrupt Lehman's Asian operations), recently compared bank balance sheets in various countries and discovered significant differences. One telling disparity is leverage. The higher the leverage, the greater the risk, and despite efforts to put them on sounder financial footing, U.S. and European banks remain overstretched by historical standards and relative to their peers. (See the top 10 bankruptcies...
Evolutionary psychologists have a cynical term for cooperative, procommunity behaviors like buying a Prius or shopping at Whole Foods or carrying a public-radio tote bag: competitive altruism. Cynical, but accurate. As several studies (like this one) have shown, altruistic people achieve higher status, and are much more likely to behave altruistically in situations where their actions are public than when they will go unnoticed. Competitive altruism explains why soldiers jump onto grenades during war (their clans will reap the rewards) and why vain CEOs build hospital wings (they enjoy the social renown that they could never acquire from closing...
...Faculty of Arts and Sciences at Harvard College has striven over the past four years to impart on us a breadth and depth of knowledge that few institutions of higher learning could rival. From freshman seminars to sophomore tutorials to senior theses, we have all worked incredibly hard in our own fields, reading, writing, doing problem sets, and pouring blood, sweat, and tears into our academic experience. We have also taken what amounts essentially to distribution requirements (as dirty as the phrase might be) in other disciplines, learning how magical numbers can be or how the dinosaurs lived. However, while...
...professors and teaching fellows grant extensions to students here, sometimes for legitimate reasons such as illness, and sometimes for less legitimate reasons such as procrastination and poor planning on the part of the student. While these extensions might be beneficial in the short term in allowing students to receive higher grades, they are in the long term detrimental. There are many aspects of life here that promote procrastination, particularly assignments stacked towards the end of a semester, but possible extensions make procrastination even worse and create incentives for poor time management. Students will learn the same amount of academic material...
...Roeder was sentenced to 24 months of probation. The conviction was overturned on appeal the next year when a higher court said the police search of his car had been illegal. Authorities have yet to confirm that the present suspect was the man in question...