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...higher rate of bank failures is increasing strain on the FDIC's resources. The agency's insurance-fund balance dropped by almost half in the fourth quarter, from $35 billion to $19 billion. To keep funds from dwindling, the FDIC is going to raise deposit-insurance assessment rates beginning in the second quarter of 2009, adding to the burden that already-troubled banks will have to bear...

Author: /time Magazine | Title: FDIC Reports That Bank Failures Are Rising | 2/27/2009 | See Source »

...case of global catastrophe - Fowler believes that as the climate warms, it will take a toll on agriculture. A recent study in Science warned that by the end of the century, the average temperatures during growing seasons could be higher than the most extreme heat of today. To keep growing food, we'll need to make use of crop varieties that are better equipped to withstand heat and potentially droughts; breeders sifting through Svalbard's unparalleled collection of seeds today may discover tomorrow's crops. "This isn't just a time capsule," says Fowler. "This is a living institution, built...

Author: /time Magazine | Title: The Planet's Ultimate Backup Plan: Svalbard | 2/27/2009 | See Source »

...other, building up to a rousing chorus featuring a brilliantly restrained vocal performance from Pollard. He clearly knows how to use his voice to hook in the listener but never shows it off, deferring to the merits of the songs rather than indulging himself.Later songs like “Keep Me Down” and “UFO Love Letters” are similarly straight-ahead and thrilling. The dark melodies that hold these songs together are adorned with subtle details like whistling at the end of the latter and a scything solo in the former...

Author: By Chris R. Kingston, CRIMSON STAFF WRITER | Title: Boston Spaceships | 2/27/2009 | See Source »

...stage where students and those in the Boston area unable to attend smaller shows can see them,” says Hairston. However, the Harvard Foundation also hopes to provide entertainment to students and the general community with this production. “We’re going to keep this show consistently fun and funny,” says Jarell L. Lee ’10, student co-host of the evening show...

Author: By Keshava D. Guha, CONTRIBUTING WRITER | Title: Diversity Remains Focus of Cultural Rhythms | 2/27/2009 | See Source »

President Obama has acknowledged the success of the Swedish model, but he says that “cultural differences” and the relative complexity of our banking system make the model unfit for America. However, only the 19 biggest banks would be up for government receivership. Moreover, keep in mind that the FDIC takes over small banks all the time. Even Alan Greenspan, the image of free-market capitalism as Federal Reserve chairman from 1987 to 2006, has acknowledged that, “once in a hundred years, this is what you do.” Now is certainly...

Author: By The Crimson Staff | Title: (Don't Fear) the Receiver | 2/27/2009 | See Source »

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