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...Perhaps the main reason that people lose faith in their governments is that they believe the people in charge are either incompetent or dishonest. The average person must wonder whether anyone is in charge when the forecasts of bank failure rates are unbelievably low at the same time that the Administration is debating whether it may have to nationalize Citigroup (C) or Bank of America...
...historical? The -6.2% figure represents the worst quarter for economic growth in the U.S. since 1982, when the economy shrank at a 6.4% annual rate. And the BEA - which said new data on exports, consumer spending and inventories were the main causes of the dramatic change in its estimate - isn't done revising: there will be one last estimate of fourth-quarter GDP on March 26, then what are called benchmark revisions a couple of years down the road. The revision trend is clearly downward, and the 1982 mark is likely to be overtaken...
...completely antagonize the notion that such a group avoid making political power its main agenda,” Kameron A. Collins ’09 wrote in an e-mail to BGLTSA-open. “If trying to fight for cultural capital isn’t political, I don’t know what...
...target for the Federal Funds rate against the zero lower bound, the limitations of the Federal Reserve are quite apparent. Since no one can trust a bank’s balance sheet, laced with so-called toxic assets, the economy continues to be threatened. Our legislators are left two main choices: Inject the banks with more capital and hope for the best, or take over insolvent banks, wipe out shareholders, replace the executives, and make the bondholders the new shareholders...
...Harvard students want you to start booking flights through their aptly named GetOutofCambridge.com, a site whose main advantage over existing services seems to be a set of garish-looking buttons that give you the right dates for Harvard breaks...