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...economy, be it the case of former Chairman Paul Volcker’s raising of interest rates to historically high levels in order to cut inflation in the early 1980s, or Chairman Ben Bernanke ’75’s opening up of lending windows to major investment banks during the financial crisis, despite the deep political unpopularity of such measures. By opening up the Federal Reserve’s operations to naked populist critiques, the Sanders amendment begins to violate this trust in an independent and apolitical central banking authority...
...reform, but in the process, they are failing to understand which regulations really need to be in place for the economy to function well. Derivatives trading will occur throughout the future, whether in a bank or a distant unregulated entity, and it is best if it occurs in major banks under the watchful eyes of regulators. There will be future crises with politically unpopular but necessary monetary solutions, and an independent Federal Reserve will need to be there to solve them. Legislators are smart enough to realize these truths; the question is, are they brave enough to make legislation that...
During exam period, he said, major papers and projects are not permitted...
...United States Postal Service recently announced its plan to cut Saturday mail delivery in the face of growing deficits and decreasing mail volume. The cuts have widespread public support from 71 percent of Americans, including majorities of both political parties, even though the projected job losses are undesirable for a country just exiting a major recession. Simultaneously, the reiteration of the USPS’s financial woes has prompted some calls for the agency to fully privatize. We support the Saturday service cuts as an unpleasant but necessary money-saving measure; however, we reject any calls for the Postal Service...
Grolier, which opened in 1927, has struggled through several major financial difficulties throughout the years. Its second owner had just announced the shop’s closing in 2006 when Menkiti made the decision to rescue...