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...mechanism for financial institutions to offload toxic assets, in general, heavily leveraged ABS securitized by banks and held on their books. An ABS is considered a toxic asset when the value of the ABS is less than the original investment. The toxic asset has a negative impact on the bank's balance sheet which, when multiplied, reduces the banks ability to lend...
University spokesman John D. Longbrake said that Harvard understands its responsibilities as a major employer and recognizes that it depends heavily on its staff to fulfill its academic mission. He added that Harvard has “taken a series of steps to minimize the impact of the global economic downturn on the people who work here” by strictly limiting hiring, freezing salaries for non-union staff and faculty, and offering a voluntary early retirement incentive plan for 1,600 workers...
...Bequelin and others say the Communist Party's profound fear of the impact of the world economic crisis on China's already fragile social stability has strengthened party hardliners. They argue that the lack of international response to Beijing's suppression of political dissent before and during the Olympic Games - the jailing and intimidation of dissidents like Hu Jia, for example - makes even more stringent repression now the government's best option. Sinologists say a series of sensitive anniversaries that fall this year - including the 20th anniversary of the crushing of demonstrations in Tiananmen Square and the 60th anniversary...
Despite the earlier Carrisa solar experiment, the state feels it is still inexperienced in judging the impact of huge solar plants. According to California Energy Commission chairwoman Karen Douglas, "We've got much more experience siting natural-gas plants than siting renewables, both from a staff and commission perspective. So some issues are rising up in the renewables case that are substantively different than what has been the core of the siting work before the solar applications started coming in so quickly...
Trouble is, Indonesia is not exactly in the crosscurrents of the Islamic world. Despite its size, it has little impact on Muslim affairs. It is also somewhat removed from the big issues Obama will most likely address in his speech - extremism, terrorism, democracy, Palestine, Iraq, Iran, Afghanistan, Pakistan. "Indonesia's a nice place, but it is outside the mainstream of Muslim opinion," says an Arab diplomat who asked not to be identified. "A Muslim watching in Egypt, or in Syria, or in Iraq - they will wonder, 'Why is he speaking to us from so far away?' " (Read "What's Holding...