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...They will remain in houses where they are very unlikely to be able to pay off the principle. These residences will not be released into a market where prices continue to drop very rapidly because there are no government programs to keep the housing prices at or near current levels as people are pushed out of work. If enough people lose homes, some of them will at least have the opportunity to buy property that they can afford, property which has reached its economically "correct" level through the forces of the market and not through a system that manages prices...

Author: /time Magazine | Title: Saving the Housing Market By Speeding Up Foreclosures | 2/18/2009 | See Source »

...could delay Harvard’s ambitious plans for a new campus across the river. Harvard has heralded the Science Complex as a core part of its plans. According to Faust’s statement, the Science Complex’s foundation will be completed and brought to ground level at a slower pace while planners conduct detailed cost analyses to determine whether to keep current plans, reconfigure the building to cut costs, or halt construction completely. Faust said the rest of Harvard’s Allston planning—which has been slated to occur over a 50-year...

Author: By Peter F. Zhu, CRIMSON STAFF WRITER | Title: Harvard To Slow Allston Construction | 2/18/2009 | See Source »

...comfort some to see the spirit of domestic exclusivity alive and well on Harvard’s campus, well after the housing process became truly random. The Eliot House Committee, in an attempt to retain their erstwhile elite status, has taken this entitlement to a new, breezier level: by taking off their pants. Dimitry A. Doohovskoy ’09, Eliot HoCo Co-chair, organized a “Pants-less Dining Experience” for the residents of Eliot House last Thursday. In a vehement e-mail over the Eliot House list, Doohovskoy instructed Eliotites to drop trowsers...

Author: By Gus T. Hickey, CRIMSON STAFF WRITER | Title: In Eliot, No Pants is No Problem | 2/18/2009 | See Source »

...lieu of further oil revenue, Iraq will have to raise cash elsewhere to maintain roughly the existing level of government spending, which U.S. and Iraqi officials feel is necessary to keep the economy steady. Despite surpluses and positive economic signs, Iraq cannot currently generate cash on capital markets like other countries by the sale of bonds because of hundreds of unsettled claims worth billions of dollars related to Iraq's 1991 invasion of Kuwait. Scores of possible lawsuits by Kuwaitis and Westerners lurk in countries where Iraq might sell bonds, which could be seized by courts deciding cases put forward...

Author: /time Magazine | Title: Iraq a Haven from the Global Financial Crisis — for Now | 2/18/2009 | See Source »

...counterpart. Over the past two weekends, the Dunster House Opera sought to correct this under-appreciation of Stravinksy’s work. Though the undertaking was an ambitious choice—the unorthodox rhythmic and harmonic elements of the music are particularly difficult—the company achieved a level of artistry not often seen within the realm of collegiate opera. “The Rake’s Progress” presents a 20th-century adaptation of the Faust legend, which recounts the meteoric rise and fall of the hero Tom Rakewell, portrayed by James B. Onstad...

Author: By Diego H. Nunez, CONTRIBUTING WRITER | Title: 'Rake's Progress' Progressive | 2/17/2009 | See Source »

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