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...TARP may simply disappear before the eyes of everyone debating how it should be used. Bank of America (BAC) is negotiating with the government for billions and billions of dollars to close its acquisition of Merrill Lynch. That was not how it was supposed to work. BAC was supposed to have had the balance sheet to suck up both Merrill and Countrywide...

Author: /time Magazine | Title: Bank Of America and The Incredible Disappearing TARP | 1/15/2009 | See Source »

...Most troubling to the financial markets is the ongoing question surrounding the nation's biggest banks, including reports that Bank of America's acquisition of Merrill Lynch is shaky and that BofA will need billions more in federal assistance. Meanwhile, Citigroup is trying to stay one step ahead of the sharks, er, shorts, who have taken the stock down more than 20% in the past two days. Though Citi is moving aggressively to hive off assets and divisions - earlier this week it announced the merger of its Smith Barney brokerage unit with Morgan Stanley's Global Wealth Management division...

Author: /time Magazine | Title: Bank Fears Bring Back Bumpy Ride to Wall Street | 1/15/2009 | See Source »

...with how I swam.”There was one rough patch disrupting Harvard’s day of smooth sailing, however. In the 1000-yard freestyle event, two of the Crimson’s top swimmers were disqualified for ending in the wrong lane. Meyer and senior Eric Lynch, who posted times good enough to claim the top-two spots in the event, were eliminated from scoring for this blunder.“That’s kind of a rookie mistake and slightly embarrassing,” Meyer said. “I just looked up the heat...

Author: By Alexandra J. Mihalek, CRIMSON STAFF WRITER | Title: Harvard Remains Perfect Against Quakers | 1/11/2009 | See Source »

Shortly after arriving in Louisiana, Lynch was brought to Foster's rented, ranch-style compound in Bogalusa. It sits behind a rusting fence, along a two-lane road, across from a cemetery and a sign that greets visitors: "BOGALUSA - Welcome to Our City." Jack Strain Jr., the sheriff of St. Tammany Parish, says the initiation ceremony began swiftly, and included the shaving of Lynch's head, the white hooded suits, the pledging of loyalty to the Klan, the burning of torches. It extended into Saturday. Then, on Sunday, Strain says, Foster led his group of disciples - including...

Author: /time Magazine | Title: A Klan Initiation Murder: A Backlash to Obama's Victory? | 1/10/2009 | See Source »

...back to extract the round. He realized that once he shot her, the bullet didn't leave her body. So he cut her open to find the bullet to destroy the evidence. Right where she fell." According to Strain, Foster then ordered his disciples to destroy the evidence, burning Lynch's clothes, then bringing her body to the end of the boat launch, just steps away from the police station in the town of Sun. Two of Foster's disciples allegedly walked into a nearby convenience store and asked a clerk: How do you remove blood from clothing? The clerk...

Author: /time Magazine | Title: A Klan Initiation Murder: A Backlash to Obama's Victory? | 1/10/2009 | See Source »

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