Word: interestingly
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...that a collapse of the U.S. banking system seems unlikely, stock-market watchers have found a new thing to worry about: rising interest rates. The yield on the government's 10-year Treasury bond is up 65% this year to a recent 3.83%. Says top Wall Street strategist Edward Yardeni, "If bond yields get up to 4.5%, so not much higher than they are now, I think we would see a real decline in mortgage refinancing, which would threaten the viability of the economic recovery." (Read "Economic Recovery: Will Corporate Profits Recoup...
...Yardeni and others are worried that higher interest rates could push housing prices lower, and hurt banking profits. What's more, rising rates could indicate that inflation, which has largely disappeared in the recession, is coming back. To be sure, the increase in borrowing costs has already slowed home-loan-refinance activity, but it is unlikely to do much else to damage the economic recovery. (See pictures of the housing crisis...
...Harvard Alumni Association had approached her a few years ago to ask if she was interested in running. But when she asked for permission from then-executive editor Joseph Lelyveld ’58, he said it would be a conflict of interest for her to take part in confidential discussions while being obligated to report to the Times, which covers Harvard...
...afforded to the Legislative and Executive Branches in the area of military affairs, the court of appeals properly upheld the statute," argued Elena Kagan, who as Solicitor General represents the Administration before the Supreme Court. The bar on gays serving openly is "rationally related to the government's legitimate interest in military discipline and cohesion," her 12-page filing added...
...instruct the Secretary of Defense, who has the sole power to carry out the law, to make investigations a rarity, so that "Don't ask, don't tell" simply does not function. Indeed, Obama could tell the Pentagon that, as a general matter, it is not in the best interest of the armed forces to expel a service member solely for saying he or she is gay or bisexual. (Watch TIME's video "Gay Marriage in the Heartland...