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...policy has come a stream of costly policy errors that could ultimately prolong the current recession. The Fed's Dec. 16 decision to drop the target federal-funds rate to a record low of 0% to 0.25% is but the most recent of these. With rates already effectively trading near zero despite the Fed's previous target of 1%, the decision does not actually change rates and only sends a negative message about the state of the economy. That worsens confidence. And now the target rate has nowhere else to go, so the Fed will have to resort...

Author: /time Magazine | Title: Fighting the Last Depression: The Fed's Policy Errors | 12/30/2008 | See Source »

According to Rabbi Hirschy Zarchi, the director of The Chabad House, “Happy Hanukkah” signs placed near the menorah appeared torn on Wednesday and Thursday. He said he originally dismissed these subtle signs of damage, believing them to be accidental, not malicious...

Author: By Emily J. Hogan, CRIMSON STAFF WRITER | Title: Harvard Chabad Menorah Vandalized | 12/30/2008 | See Source »

...remember playing a World TeamTennis match in the 1980s near Mary's office. I wanted to hear about her life, her quest for equality; and I needed to do it on her turf, where I could see her signature socks and cap. We met at the newspaper, and it was an enlightening experience...

Author: /time Magazine | Title: Mary Garber | 12/29/2008 | See Source »

...Oahu during their most public day since arriving home for the holidays on Dec. 20. At midday, Obama decided to take family and friends out for a dose of shave ice, a local refreshment, and a visit to Sea Life Park, a popular aquarium located on a rocky point near a lighthouse on Oahu's Windward side. Tourists who were inside showed pool reporters photographs they took of Obama and his group. Obama was wearing a casual cream-colored shirt tucked into olive shorts and sandals. The Obamas and friends were seen attending the dolphin show, tourists said, which featured...

Author: /time Magazine | Title: Protecting Obama When the Lights Go Out | 12/28/2008 | See Source »

Semper Fit is a gym at Marine Corps Base Hawaii, and Obama has made an effort to mingle with the Marines stationed there. Every morning but Christmas Day Obama has worked out at the facility, pausing afterward to greet the service members and their friends and family who gather near his motorcade to take pictures and shake his hand. On Christmas Eve, Obama greeted the crowd outside the gym with a hearty "Mele Kalikimaka!," Hawaiian for "Merry Christmas...

Author: /time Magazine | Title: Protecting Obama When the Lights Go Out | 12/28/2008 | See Source »

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