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...Neel Kashkari is not going to be in Washington much longer if there's a change in administrations. And that'll cause some kind of turbulence."-Madeline Brand, of National Public Radio, on the fact that Kashkari might have to leave after only a few months...
...lending rates. The decision, which came ahead of the Federal Reserve's scheduled meeting October 28-29 to debate a rate cut, was on the heels of consecutive drops in major market indices around the world and the belief that, thanks to falling commodity prices, inflation is no longer the markets' major problem. But in the end, the market only gave proof of one of its old traits: fickleness...
...Beyond the immediate economic impact, there are already signs that this meltdown will have longer-term repercussions. One is that policymakers everywhere will have to go back to the drawing board to figure out a more effective system of financial-crisis management. "Governments are making the same mistake over and over again. They're trying to deal with the crisis on a piecemeal basis," says Dennis J. Snower, president of Germany's Kiel Institute for the World Economy. He advocates a far more ambitious solution, including the creation of a new international agency that can act as a lender...
...Among Equals, No Longer First Wherever the debate over ideas leads, it's clear that some things will never be the same. Wall Street's primacy as the world's capital of capital won't disappear, but it will face even tougher challenges not just from London but also from regional financial centers, including Dubai and Singapore. And since financial services are such an important part of the U.S. economy, accounting for a massive 15% of New York's alone, any diminishing of its status as a financial center will have big repercussions on jobs. The dollar too may lose...
...efforts in recent years to schedule some lower-level Division I-A opponents by Ivy schools; Harvard briefly had Army on the schedule before the Black Knights entered Conference USA and had to remove the game. Yale had Army scheduled for 2010 and 2012, though those games are no longer listed in the schedule for the Bulldogs (Army’s sports information department claims those scheduled games were always unofficial and declined to comment on why they were no longer listed). The odds of getting Army back on the schedule, for the moment, seem slim...