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Other banks were willing to strike even more generous deals. UBS initially told AIG that it would take collateral worth 35% less than what the insurer owned on 55% of the $4.3 billion in CDS contracts it had sold to the Swiss bank. For the remaining 45%, UBS was willing to allow AIG to pay 10% less than what it had originally promised. Those deals would have saved AIG about $1 billion. AIG later broke off those negotiations, and as with all of its other counterparties, paid UBS in full. BlackRock, in the report, said Goldman Sachs, French bank Calyon...

Author: /time Magazine | Title: Could the U.S. Have Saved Billions on AIG Rescue? | 1/27/2010 | See Source »

...What's more, BlackRock said that investment bank Merrill Lynch, which had recently agreed to be purchased by Bank of America, was not willing to strike a deal. If AIG had then paid off only Merrill's bond insurance in full, the other banks may have balked on their less-than-full deals. (See the top 10 financial collapses...

Author: /time Magazine | Title: Could the U.S. Have Saved Billions on AIG Rescue? | 1/27/2010 | See Source »

...merely because they can squeeze into them and enjoy the satisfaction of fitting into the smallest possible pair with the same waist size as the other pants they usually wear. (I would argue that the same is true of tight T-shirts, although, thankfully, they seem to be less of an epidemic.) In a sense, skinny jeans allow some men to feel skinny even when, as the case of the airplane guy clearly demonstrates, that is hardly the case...

Author: By James K. Mcauley | Title: Death to Skinny Jeans | 1/27/2010 | See Source »

...Professor Henry L. Gates Jr. played an attention-grabbing rap about literacy. Though it may sound like a strange convergence of themes, Gates used the song to discuss how during the Enlightenment, literacy was viewed as the link to humanity, and Africans who could not write were seen as less than human...

Author: By Julie R. Barzilay, CRIMSON STAFF WRITER | Title: Shopping Week, Day Four: Me Want Food! | 1/27/2010 | See Source »

...Harvard, students are encouraged to critically engage every dimension of our lives except one: religion. Such peculiar institutional myopia harms students and reveals an unfortunate inconsistency in Harvard’s pursuit of its motto, Veritas. In truth, since religion is a no less prevalent nor less valuable form of diversity as race and class, the university should encourage discussion of this facet of the human experience as well. Harvard should also ensure that those who are unsure of their beliefs can be accommodated and not grant de facto preferential treatment to those with a religious affiliation...

Author: By Gregory A. Dibella | Title: A Religious Awakening | 1/27/2010 | See Source »

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