Word: nationalizes
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...effort to boost consumer lending, finally launches next week. The program - officially the Term Asset-Backed-Securities Loan Facility - is targeted at restarting the market banks use to fund credit-card, auto and other consumer loans. But some worry TALF could create even more risky bonds that our nation's wobbly financial firms don't want and can't sell - a perverse unintended consequence of a well-intended program...
...addition to demanding $2.3 billion in loans from Ottawa, Chrysler also wants the Canada Revenue Agency, that nation's tax collector, to stop hounding the automaker for more than $1 billion in taxes mistakenly paid to the U.S. years ago. The Canadian government only recently uncovered the error, and has since placed a lien against Chrysler's Brampton, Ont. plant and withheld $235.5 million in tax rebates...
...Crimson Crazies, the only home game this weekend comes tonight, as the No. 16 men's lacrosse team hosts Hartford at 6:00 p.m. on Cumnock Turf. After kicking off the season with a road upset of Duke, Harvard took down nationally-ranked Stony Brook before coming up short against No. 13 UMass at home last weekend. Come watch junior goalie Joe Pike, who has the nation's third-best goals-against average, top scorers Jeffrey A. Cohen '12 and Dean W. Gibbons, and the rest of the laxers in their final tuneup before the start of Ivy competition...
...California became one of the first states in the nation to legalize medical marijuana. Currently, $200 million in medical-marijuana sales are subject to sales tax. If passed, the Marijuana Control, Regulation and Education Act (AB 390) would give California control of pot in a manner similar to that of alcohol while prohibiting its purchase by citizens under age 21. (The bill has been referred to the California state assembly's public-safety and health committees; Ammiano says it could take up to a year before it comes to a vote for passage.) State revenues would be derived from...
...Convincing Japanese of the need for change is never easy, but Ozawa finds himself tantalizingly close to power precisely because the country so urgently needs fresh ideas. The global recession has hit Japan harder than any other developed nation. Exports are plummeting, Japan's economy is contracting at double-digit rates and the country's industrial giants are reeling. Rarely has "stay the course" seemed so grossly inadequate as a solution, yet the LDP seems unable to mount a credible recovery effort, and the public is fed up with the bumbling half measures of party hacks. (Read "Sony's Woes...