Word: monday
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...hard to understand why most observers expect Wall Street to slide fast and far during trading Monday. It opened with an opening dive - its first dip below the 7,000 point bar in more than a decade. And why would the Dow resist the mega-tanking that bourses elsewhere experienced today, amid a flurry of dismal financial and economic news from virtually every corner of the globe...
...Even before Wall Street's opening slump of 1.66%, prices on European exchanges suffered serious erosion, with London's FTSE 100 down 4.2%, Paris' CAC 40 by 3.6%, and Frankfurt's Dax index 2.8%. The trio closed Monday trading with losses of 5.33%, 4.48%, and 3.48% respectively. The European shrinkage followed Asia's lead, with Tokyo's Nikkei index dropping 3.8%, Hong Kong's Hang Seng off 3.9%, Sydney's All Ordinaries falling 2.8%, and Mumbai's BSE Sensex down 3.69%. (See pictures of the global financial crisis...
...Evidence of just how bad the global recession is shaping up to be is building fast. The worst of the news Monday came with the announcement that financial insurance giant American International Group had lost $61.7 billion in the last quarter of 2008, the largest quarterly loss in corporate history. As the insurer of much of the toxic American mortgage debt that detonated the implosion of the world's finance markets, AIG is now also set to take on an additional $30 billion in U.S. government rescue funding beyond the record-setting $150 billion in aid it received last year...
...possible that a student will find his or her class is a bad fit, even after the third Monday of the term. This student already faces an extremely difficult decision. Two weeks of makeup work is a daunting prospect for the average Harvard student. The other option—choosing to remain in the course—entails being trapped in a class that he or she dislikes. Given the gravity of this decision and the stress accompanying it, the administration should not be invoking a penalty that skews the student’s choice...
...flexible, offering students opportunity to fine-tune their schedules long into the term. However, the fee for changing classes seems like an expendable vestige of past policies that should be allowed to wither away. Serving no reasonable financial purpose and attaching a stigma to changing classes after the third Monday of the term, Harvard’s $10 add/drop charge should be abolished. Like students at other schools, students here should not have to forgo a trip to the movies to alter their schedules...