Word: interventionism
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What, then, needs to be done? Government and central bank action, around the world, must have two objectives. The first is speedy intervention to prevent a self-perpetuating downward spiral, which means protecting depositors at minimal long-term cost to the taxpayer. The second is to ensure so far as...
Just as the House of Representatives was split on the wisdom of the $700 billion bailout bill, so too are Harvard’s economists, who have left their Ivory Tower perches to weigh in on a plan that would mark an unprecedented government intervention in the financial sector.
Over the weekend, leaders in Washington reached a tentative agreement on a government rescue strategy for the fraught U.S. economy. After intense, partisan negotiations, the core proposal of Secretary of the Treasury Henry M. Paulson’s original $700 billion bailout plan remains largely intact. Originally conceived and announced...
The proposal for this unprecedented government intervention in the market follows a series of financial shocks in recent weeks, including the failure of Lehman Brothers, the government takeover of mortgage giants Fannie Mae and Freddie Mac, the largest government bailout to date, an $85-billion loan to the American Insurance...
In a year of historic market turmoil, many of the nation’s wealthiest universities beat the trend of negative returns—with Harvard leading the pack. Though Harvard’s 8.6 percent return on its investments through June 30 was down significantly from previous years, it...