Word: moneyitis
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...will not aim to politically influence the creation and setting of monetary policy, it still interferes with the necessity of an independent Federal Reserve with the power to act in times of crisis. In the financial system, a bank does not need actually to be running out of money for a bank run to occur; there only needs to be the impression that the bank might be running out of money. This is why all of the major banks only received Troubled Asset Relief Program funds in concert, even though some of them needed the funding more than others. This...
Although Harvard is an astonishing place on multiple levels, the College cannot be asked to perform economic miracles. The substantial money Harvard spends on progressive initiatives has to originate somewhere. Harvard thrives financially because it has a wealthy network of benefactors and supporters who believe in its cause. Those who donate generously to this mission are friends of the institution and must be treated as such if we expect to continue leading the academic world. Sometimes this source of funding does not appear as noble or progressive to us as the places where the funds ultimately end. But we must...
...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 to privatize, either now or in the future...
...true that the USPS right now spends more money than it earns. It predicts an operating loss between six and 12 billion dollars this year. But to presume that our nation’s postal service must take in more money than it spends is to treat it like a privately owned delivery company when, in reality, the USPS is a social service. Indeed, postal service is one of the fundamental functions of our government. The Constitution specifically grants Congress the power to “establish Post Offices and Post Roads” in between the powers to coin...
...accordance with the dean’s “first-dollar principle,” the school has redoubled its efforts to spend these restricted funds on core expenditures, before spending money that can be allocated more freely...