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...problem, it appears, is that few people think Citigroup's earnings rebound is sustainable. Following the bank's strong earnings announcement, analyst John McDonald, who covers Citi for Sanford C. Bernstein, cut his estimates of what the bank could make next year. Instead of his earlier projection that Citi would turn a profit in 2010, McDonald thinks the bank will be solidly in the red next year, losing $3 billion. In his report, McDonald said investors should worry about "the earnings power and strategic direction of the franchise amid all the change and increased government ownership now under...

Author: /time Magazine | Title: Can Citi Ever Turn It Around? | 7/23/2009 | See Source »

...believe that Sergeant Crowley acted in a way that is consistent with his training at the Department, consistent with national standards of law enforcement protocol," he said. "I do not believe that his actions were in any way racially motivated." Instead, Haas said that Crowley had "assessed the situation, tried to de-escalate the situation, and made a determination that the only way to stop the situation was to make an arrest...

Author: By Maxwell L. Child and Peter F. Zhu, CRIMSON STAFF WRITERS | Title: Police Commissioner Defends Officer but Will Assemble Panel To Review Gates' Arrest | 7/23/2009 | See Source »

...What would you want to see change? I would hope that folks in the Obama Administration would somehow link bonuses to long-term corporate productivity or long-term shareholder value - long-term meaning four to five years instead of five months or a year - and reinstate the Glass-Steagall Act [that separated investment and commercial banking]. These are big reforms, but they'd give you a more stable landscape to make even more changes. Part of what I learned is that the very kinds of daily practices that created the boom in the first place - wanting to book as many...

Author: /time Magazine | Title: An Anthropologist on What's Wrong with Wall Street | 7/22/2009 | See Source »

...Obama's news conference on July 22 is meant to be a foot on the accelerator of health-care reform, but all signs suggest that Capitol Hill is putting on the brakes. In the House, the Energy and Commerce Committee had expected to be finishing up its bill tonight; instead, the only one of the three health-related House committees that hasn't yet produced a bill has suspended its drafting sessions, while committee chairman Henry Waxman tries to work out his differences with a rebellious group of fiscally conservative Democrats known as the Blue Dogs. And in the Senate...

Author: /time Magazine | Title: Obama's Health-Care Push: Congress Says It's About Time | 7/22/2009 | See Source »

...Nathaniel S. Rakich ’10, a Crimson editorial editor, is a government concentrator in Cabot House. He suggests firing Julian Tavarez instead...

Author: By Nathaniel S. Rakich | Title: Managing Expectations | 7/21/2009 | See Source »

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