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...more competition is on the horizon. In the past two months, Goldman Sachs, Morgan Stanley, Raymond James, GMAC, American Express and business financier CIT have all applied to convert into bank holding companies, partly in order to be able to get access to cheap funding through deposits. GE Capital, the finance arm of GE, is planning on doubling its deposit base, which it garners through broker-sold CDs, to $81 billion next year. Goldman Sachs is on track to open an online bank. Morgan Stanley, which already has $36 billion in deposits, is selling billions of dollars' worth...

Author: /time Magazine | Title: The CD-Rate Scramble: Better for Depositors than for Banks | 12/8/2008 | See Source »

...more advanced organism. Because the researchers found that the protein played similar roles in mice, their study suggests that it might also do so in humans. While a genetic treatment for aging—such as an anti-aging pill—is not currently on the horizon, Mostoslavsky said that “if someone does this experiment and proves that the mice are healither and live longer without serious secondary consequences, then...it is safe to say that having these mice will prove a principle that humans could be justified” in seeking an anti-aging elixir...

Author: By Elyssa A. L. Spitzer, CONTRIBUTING WRITER | Title: Gene May Hold Anti-Aging Secret | 12/5/2008 | See Source »

...cutting rates by warning about continued high inflation. But speaking to reporters in Brussels, his emphasis was altogether different. "Overall, since our last meeting, evidence that inflation pressures are diminishing has increased," Trichet said. "Inflation rates are expected to be in line with price stability over the relevant policy horizon...

Author: /time Magazine | Title: Is Europe's Central Bank Missing the Crisis? | 12/4/2008 | See Source »

When “Clay All Night” producer and ceramicist Jessica S. Hoy ’07 embarked for rural West Kenya after graduation, she did not see clay on the horizon. On a fellowship for “purposeful travel,” Hoy went to work in a health clinic for the Luo people. Through a group of women she met there, Hoy discovered the art of traditional Luo pottery, in which forms come directly from their age-old uses. Speaking to a small but enthusiastic crowd last Wednesday at the Office for the Arts ceramics...

Author: By Jessica M. Righthand, CONTRIBUTING WRITER | Title: Alum inspired by Luo Pots | 11/21/2008 | See Source »

...From the port of Mytilene, you can see the lights of the Turkish coastal town of Dikili twinkling on the horizon. Further north, where the strait between the two countries narrows to just three miles, traffickers zip immigrants across by Jet Ski. But the usual form of transport is a humble dinghy or decrepit motorboat crammed past capacity, and destined to be abandoned after the crossing - if the boat and its passengers make it. In October, in separate incidents, Greek and Turkish authorities recovered 18 bodies; the E.U. estimates that 3,000 or more people die annually attempting to slip...

Author: /time Magazine | Title: Greece's Immigrant Odyssey | 11/20/2008 | See Source »

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