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...Erian said in an interview with Reuters that his $812-billion firm would offer to manage part of the government’s proposed $700-billion bailout package for no fee. El-Erian—who managed Harvard’s now-$36.9 billion endowment from 2006 until late last year—currently serves as chief executive of California-based PIMCO, one of the world’s largest bond funds. The offer comes as Congress debates a plan to purchase up to $700 billion of difficult-to-sell securities in an effort to cleanse the country?...
...Practical” takes on a whole new meaning in a residential college setting where the demands of the house master can range from attending the quotidian administrative meetings to remedying the occasional late night crisis...
...roadways,” he said, responding to a suggestion by city officials that Allston streets be widened to include a bus lane. “I have, however, heard about plenty of issues with congestion caused by commuters passing through Allston.” During the late 1990s, Harvard began a neighborhood planning process, at the request of Boston Mayor Thomas M. Menino to coordinate the University’s plans for its property in Allston with the community’s needs. Currently, Allston residents are providing feedback for both the institution of this community-wide plan...
...this kind of bailout unprecedented? The current financial Hail Mary is much different from Washington's late 1980s rescue of the nation's savings and loans institutions. This time, the Federal Government wants only to carve out and buy poorly performing mortgages and securities, not the institutions that issued them, which had already gone under (or were on their way) when the Resolution Trust Corporation took them over. Richard Kogan, a federal budget expert at the nonprofit Center for Budget and Policy Priorities, says that buying all those bad assets creates "the greatest possibility of giving the taxpayers a bath...
...Colorado, where the Democrats held their convention, Obama now enjoys the support of registered voters by a 51% to 45% margin; in late August McCain led that group by a difference of 49% to 44%. Among likely voters in the state, which TIME/CNN polled for the first time as part of this series of battleground polls, Obama leads...