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...date, U.S. banks have admitted to $334 billion in losses and write-downs, and the final total will almost certainly be much higher. To compensate, they have managed to raise $235 billion in new capital. The trouble is that the net loss of $99 billion implies that they will need to shrink their balance sheets by 10 times that figure - almost a trillion dollars - to maintain a constant ratio between their assets and capital. That suggests a drastic reduction of credit, since a bank's assets are its loans. Fewer loans mean tighter business conditions on Main Street. Your local...

Author: /time Magazine | Title: The End of Prosperity? | 10/2/2008 | See Source »

Still, I concede that the average joe prefers Windows computers, which account for more than 90% of the machines on the Internet, according to the Web-monitoring firm Net Applications. (Apple's got a little less than 8%, though it has recently surged in laptop sales and now commands a little more than 10% of that market.) That's why many new gadgets I've wanted to write about (a sport watch from Garmin, for instance) and software (Google's Chrome browser) work with PCs only...

Author: /time Magazine | Title: The Klutz's Companion | 10/2/2008 | See Source »

...Brown. The Crimson has quietly averaged over nine goals per game, drawing both on standout performances and tremendous depth. While Tune has notched an outstanding 15 goals through six games, followed by junior Egen Atkinson with eight, three quarters of the Harvard roster has found the back of the net, as 15 different players have carved their names onto the stat sheet.Considering the bountiful sources of scoring at its disposal, the Crimson can feel optimistic despite its underdog status on paper. On a team with only two seniors, the imminent emergence of so many young offensive threats bodes well...

Author: By Max N. Brondfield, CRIMSON STAFF WRITER | Title: Crimson Begins October with Revenge in Mind | 10/1/2008 | See Source »

...just seconds later, heading in a free kick by junior midfielder Brian Grimm. However, this would prove to be the only goal that the Crimson’s offense could muster. Harvard had several good looks throughout the night but was unable to connect with the back of the net after Akpan’s third goal of the year. This was not the only problem the Crimson faced during the night. Senior midfielder and co-captain Michael Fucito left the game midway through the first half with an injury, removing Harvard’s leading scorer. On the other...

Author: By Ricky Liu, CONTRIBUTING WRITER | Title: Harvard Routed by Terriers in Road Contest | 10/1/2008 | See Source »

...eighth minute when they gained a penalty corner, and on the ensuing play, Penn midfielder Margaretha Ehret gathered the ball at the top of the circle and ripped a shot that was heading just wide of the goal until teammate Laurel McGarvie tipped it past Stone and into the net. After falling behind early, Harvard (2-5, 1-1 Ivy) ratcheted up the pressure. The Crimson had a 9-6 edge in shots and a 3-2 edge in penalty corners in the first half. Nonetheless, Quakers goaltender Alanna Butera met the challenge and stonewalled each attack. Butera registered four...

Author: By Timothy J. Walsh, CRIMSON STAFF WRITER | Title: Offensive Woes Hand Crimson First Ivy Loss | 9/28/2008 | See Source »

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