Word: million
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Dates: during 2000-2009
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...regulatory regime that helped enable the financial meltdown. Real change to the current system, which incentivizes unnecessary risk-taking and corporate irresponsibility, cannot be replaced with simply cutting executive pay. The recent cuts are, in reality, a slap on the wrist for executives who will still enjoy multi-million-dollar pay packages and does not affect companies who were equally complicit in the crisis if they have already paid off their bailout loans...
...move that brought clarity to why administrators have tamed fiscal messages after months of stressing the Faculty of Arts and Sciences’ impending financial deficit, FAS Dean Michael D. Smith delivered the news Friday that the school had posted a $58.6 million surplus in its unrestricted funds for the fiscal year that closed in June...
...Smith’s Dean’s Annual Report, was balanced by a consistent emphasis that most of the gains were “the result of one-time events,” and that, as expected, much remains to be done to close a remaining $110 million deficit...
Still, Smith noted that FAS received about $33 million in unrestricted gifts from two anonymous donors this past year, while also making a strategic withdrawal of $20 million in cash from its endowment to help offset the increased costs of the middle-income financial aid initiative...
...meantime, it appeared Friday that Smith’s calls for cost-cutting measures last spring—when deficit estimates ran as high as $220 million over a two-year period—had paid some dividends...