Word: normalized
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President Barack Obama did warn in his speech to Wall Street on Monday that "normalcy cannot breed complacency." But normalcy is breeding complacency - perhaps because complacency is normal. Consider the financial reforms that the Obama Administration wants to push through Congress before year-end - creating a Consumer Financial Protection Agency, giving the Federal Reserve the job of systemic risk regulator, and establishing a "resolution regime" to wind down troubled nonbank financial institutions (like Lehman) and complex bank holding companies in an orderly fashion. Steps in the right direction? Probably. Truly major reforms? Not so much...
...last week of a 27.3 percent drop in the university’s endowment, the Harvard community now knows the true magnitude of the impact the global economic crisis is having on our operations. Here and across the country, university officials are adapting to a “new normal baseline” of funding. But precisely what does that mean to us when Harvard’s apparent baseline is still $26 billion...
...simple answer is that we are spending more this year from the endowment, more than we ever have previously, to smooth the transition to this new normal. But if we want Harvard to remain Harvard, we cannot do that for long, for every dollar of endowment we spend is a dollar that cannot generate income in the future...
...changed its text message lingo. The once bootleg responses that abbreviated minutes as “in” instead of “min” and often ended with an ellipsis of four periods has started to respond to texts with far more normal parlance...
Oddities aside, however, the normal responses are an improvement over the previous sign...