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...lending it to the bank. Those deposits were explicitly insured by the Federal Deposit Insurance Corporation (FDIC) up to $100,000 before the crisis, and the banks paid for that insurance (though not in full, given that FDIC coverage has been raised to $250,000 and seems effectively without limit at bigger banks) and passed the cost on in the form of lower interest rates than on, say, an uninsured money-market account. That, plus the fear that panicked depositors could start a devastating run on the banking system, explains why we're going to continue to be protected...

Author: /time Magazine | Title: The Great Bond Bailout | 3/12/2009 | See Source »

...tenacious Shao in three sets (6-3, 6-7, 6-3), while at No. 2, Chijoff-Evans marked a complete turnaround over Medan in a fiercely contested 1-6, 7-6, 6-4 win. Despite the margin of victory for the Crimson, it was tested to the limit by a strong Marquette lineup that on another day could have celebrated its first fixture against Harvard with a win.“I think that as players and coaches we have to learn that lesson over and over again—that the doubles is nothing like the singles...

Author: By Allen J. Padua, CRIMSON STAFF WRITER | Title: Crimson Downs Golden Eagles | 3/9/2009 | See Source »

...made quick exits from the talented field, veterans Tommy Picarsic (133) and Knapp (285) pushed deep into the consolation bracket.After using only 6:09 to earn a 15-0 victory in his first bout, Picarsic used his momentum to push top-seeded Joe Baker of Navy to the limit. The Crimson senior competed fiercely to a 4-4 tie before a late third period score gave Baker a 5-4 edge. Picarsic showed no sign of letdown as he closed Saturday with a consolation win, before facing Penn’s Bryan Ortenzio. The Quaker wrestler overcame Picarsic...

Author: By Max N. Brondfield, CRIMSON STAFF WRITER | Title: Trio of Star Grapplers Qualifies for NCAAs | 3/9/2009 | See Source »

...Automakers argue that the state's greenhouse-gas emission standards amount to new fuel-economy rules because about the only way to meet the California standard is to limit the use of fuel burned in the engine: Cars and trucks would have to get 43 miles per gallon on average by 2016, which is far higher than the 35 miles per gallon by 2020 target currently approved by Congress in the Energy Act of 2007. Such a leap would require sweeping changes in the vehicles American drive...

Author: /time Magazine | Title: California and Detroit Go to War over Gas Mileage | 3/8/2009 | See Source »

...began to seriously consider implementing it around November, when it became clear that the financial crisis was going to hit the University hard, said Dean of the Faculty Michael D. Smith. Since Smith has slashed the number of visiting professorships for next year and the hiring slowdown will limit the number of new lecturers FAS will be able to hire, the new program provides an economical alternative to fill teaching vacancies. While professors acknowledged that FAS needs to cut costs, some said the program may detract from the ladder faculty system. Others also voiced concern that the program...

Author: By Bonnie J. Kavoussi, CRIMSON STAFF WRITER | Title: Ph.D.s To Fill Teaching Posts | 3/6/2009 | See Source »

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