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...customers with more than $1 million in assets and those who completed more than 120 trades a year got the lower rate, while less wealthy, less active clients were hit with higher fees. Also, under the new rules, anyone trading blocks of more than 1,000 shares will no longer be hit with additional fees...
Regulation hockey games are played for exactly 60 minutes—no shorter, and, barring overtime, no longer...
...weeks away, we can’t help but wonder: Where is the love? Would the world truly be better off if Harvard were to stop teaching economics? Humanities departments would burgeon, post-Ec 10 lunch lines in Annenberg would dissipate, and former ec concentrators—no longer wishing to strut down Wall Street—wouldn’t be disappointed when said jobs eluded them. Such a world would have to be governed by a powerful force. Some call this force cynicism. Some call it communism...
...apartheid. It was certainly a courageous decision by De Klerk, but it's important to remember that it was not some epiphany about the immorality of apartheid that changed his mind. By 1989, with the Cold War essentially over, Pretoria had gotten the message that it could no longer count on U.S. support to head off sanctions and other international pressure in the name of anticommunist solidarity. Financial sanctions were beginning to bite and the price of maintaining the status quo was beginning to appear prohibitive. De Klerk, to his credit, realized that his people had more to gain from...
Political leaders typically change course not because they change their philosophy, but because the cost-benefit ratio in maintaining the status quo no longer makes sense. That was true for Rabin - who embraced the Oslo process after calculating that Israel could not forever count on unconditional U.S. support - and also for Yasser Arafat and Mahmoud Abbas. Rabin's cost-benefit analysis told him that Israel's best interests required moving toward a two-state solution from a position of strength, and the Palestinian leadership recognized that, as much as they desired a return to the homes and land they lost...