Word: huges
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Dates: during 1990-1999
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What once seemed an unassailable idea is now ensnared in presidential politics, the byzantine workings of phone deregulation and the design flaws of a funding scheme that camouflages the costs of a huge new federal program by putting it on people's phone bills. Only 75 days into the first round of applications for the program's money, about 30,000 schools and libraries have rushed in to claim $2 billion, far outstripping the $625 million the Federal Communications Commission has collected from the phone companies. This has left the commission with the unpalatable option of scaling back its promises...
However, there is still one huge imponderable standing in the way of a peaceful handover of power, and that is Suharto himself. Senior figures at the Pentagon are skeptical that Suharto is ready to step down. Said a Pentagon official: "My sense is that Suharto will not go willingly. I think he'll put up a fight, and it could get very bloody." Most Indonesians were terrified by the sight of mobs running amok in Jakarta last week, and terrified because there was no immediate solution in sight...
...month later to compel the bank to talk, but he got nowhere. "Derivatives, even if played by the rules, are a deadly game," says Greenspan. "I was very concerned about my bank's exposure." CIBC isn't an isolated case. Among U.S. institutions the dollar amounts are so huge and the risks so high that bankers recoil when the topic is raised. But they may soon have to talk...
...banks say analysts such as Peabody are overplaying the danger, and, following some minor calamities in 1994, their use of derivatives follows a prudent management scheme. But according to the Treasury Department's calculations, the iceberg is huge. The 25 American banks with the largest position have more than $350 billion in credit exposure to derivatives--that's more than enough to wipe out the $250 billion in equity capital that the same banks keep on hand as a cushion to absorb losses. Few believe that Asia's troubles could jeopardize the entire amount--that would take a global, systemic...
...this ironically at the very point students are crossing that emotional minefield between adolescence and young man--or womanhood. Harvard's famous house system, however appealingly genteel, addresses neither of these gaps and remains grossly inadequate to undergraduate needs, the ratio of students to master being far too huge and the accident of a happy match between student and master being far too uncommon. Is this the environment to which we would unreservedly consign undergraduate women...