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...driving the Arabs into the desert sands" [May 19]. Quite to the contrary: most Israelis would be content for Palestinians to establish a peaceful state in the West Bank and Gaza and, in return, let Israelis live in peace in Israel. Regrettably for both, as long as several major Arab factions are sworn to the destruction of Israel, this will not happen. Arye Ephrath, Fairfax...
...Arabs into the desert sands," as McGirk claims [May 19]. To the contrary: most Israelis would be content for Palestinians to establish a peaceful state in the West Bank and Gaza and, in return, let Israelis live in peace in Israel. Regrettably for both, as long as several major Arab factions are sworn to the destruction of Israel, this will not happen. Arye Ephrath, Fairfax, Virginia...
Iceland gets some support for its conspiracy theory from Richard Portes, an economist at the London Business School. In March, after he published a favorable report on Iceland's economy, Portes says a senior figure at a major hedge fund phoned him. "He spent half an hour trying to tell me the Icelandic banks were in terrible shape and that the country was a disaster area," he recalls. "Apparently I was risking my reputation by saying anything different." But not everyone responds to Iceland's plight with sympathy. Eileen Zhang, an Iceland expert at ratings agency Standard and Poor...
...sgeir Jónsson, chief economist at Kaupthing, Iceland's largest bank. Following the 2006 crisis, banks greatly strengthened their liquidity positions and shifted their liabilities further into the future: on average, newly issued bonds now mature in 2010 or after, rather than within a year. Although Iceland's major banks had hoped to grow quite quickly this year, they will use their liquidity conservatively as a buffer instead. Meanwhile, to their relief, Iceland's banks have negligible subprime exposure. Whether through luck or foresight, Glitnir and Landsbanki didn't buy any of the bad paper...
...based scientists studying long-term topics like global warming's effect on the spread of disease and the genetic basis of smell. Researchers will be free to adapt their projects and follow up new leads without scrounging for funding, an approach the institute hopes will lead to major medical breakthroughs decades from...