Word: major
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...before year-end - creating a Consumer Financial Protection Agency, giving the Federal Reserve the job of systemic risk regulator, and establishing a "resolution regime" to wind down troubled nonbank financial institutions (like Lehman) and complex bank holding companies in an orderly fashion. Steps in the right direction? Probably. Truly major reforms? Not so much...
...that we need such a drastic overhaul now, but still, the contrasts with 1930s are stark. Ironic, too. By following their belief that financial markets should work out their own problems, Andrew Mellon and his kindred spirits at the Fed triggered a financial collapse that more or less ensured major, permanent government participation in the financial sector. By intervening aggressively, Hank Paulson and his kindred spirits at the Fed haven't quite ensured a continuation of the status quo - some reforms will come, and banks and their regulators will tread more gingerly for at least a few years - but they...
...hold the esteemed position. “Edward Wigglesworth historically did graze his cows where we are now standing,” said Cox during the ceremony. As the oldest endowed chair in America, the Hollis Professor of Divinity position was funded in 1721 by Thomas Hollis, a major benefactor of Harvard in its early years and the namesake of Hollis Hall and the Hollis library catalog. According to Plummer Professor of Christian Morals Peter J. Gomes’s speech at the ceremony, the area where Tercentenary Theater now stands was once the college’s pasture, where...
...teachers in this because we understand that most people in this college have never stepped foot on a surfboard.” And even with Boston’s frigid winter approaching, Klein and Massenburg are undeterred. After all, they cite recent developments in wetsuit technology as a major advance that will allow the truly devoted to pursue their sport throughout the school year...
...They may make for good reading, but Fini's veiled threats to pull his support ultimately carry little weight. Same with similar threats from the anti-immigrant Northern League party and Catholic pols who dream of creating a new centrist movement. All of the major figures on the right have too much riding on Berlusconi, who paradoxically grows in power even as the scandals seem to weaken his moral authority. In some ways, Berlusconi is the Italian political equivalent of Bank of America or AIG: he is simply too big to fail. Too many who have carved out their slice...