Word: low
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...shutting down permanently. And the suddenness of the current crash doesn't make things easier. Former Lehman Brothers employees, he says, "have some emotional catching up to do," because they hardly saw what was coming and went right into the euphoria phase. "The instant high becomes a very severe low. I think there are people who are going to be psychologically impaired," Morgan says. One thing's for sure: It won't be a carnival. (Click here to see photos of how London faces painful and uncertain times...
...though she's only four, a subtler, if more profound freedom has begun eroding, too: the freedom to mix with people from other backgrounds. She's headed off to school, in her red-checkered uniform, with the kids of middle-class Londoners, "people like us." We pay fees, but low ones, so the school tends to attract parents in the media, the public sector and small businesses. Our local state schools were too rough, too crowded or too religious, and the school where we'd sent our elder daughter, Julia, for a couple of years was too expensive and snooty...
...Asia's recent troubles show how easily even the healthiest of banking sectors have been dragged into the international turmoil. Korea's banks have a mere $70 million of exposure to risky mortgage-linked securities, and nonperforming loans are at an all-time low. Still, Korea has been exposed to the global crisis because its banks rely on more foreign financing than others in Asia. To some, the recent upheaval in Korean markets was eerily similar to the country's financial crisis in 1997. Back then, Korean banks also had trouble refinancing borrowings from jittery foreign banks, creating a shortage...
...then-University President Lawrence H. Summers inked the deal with Citibank to provide loans for the University’s graduate students, with both institutions sharing the financial risk. Three years later, given the exceptionally low default rate on the program, Citibank agreed to underwrite all financial responsibility for the loans...
...more than 400 officially registered student organizations at Harvard College, only a few have explicitly political goals. But over the past few weeks, our campus has seen a level of engagement and interest in the upcoming presidential election that is heartening, given the traditionally low rates of voter turnout amongst 18-29 year olds. Various groups of students from diverse backgrounds and divergent agendas have come together to engage each other in a civilized, intellectually honest, and energetic discussion. We commend all of these students for their efforts, and applaud the College as a whole for fostering these encounters. Perhaps...