Word: oneness
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...One of the perhaps most important sections of this legislation will focus on derivatives trading. Derivatives, financial instruments that are used to bet on movements of assets and thus serve as protections against risk, are often necessary for many different kinds of businesses, ranging from farms to airlines to banks. Yet during the crisis, banks took enormous risks with derivatives, and these risks were neither monitored nor regulated by the government as most of the derivatives were traded in over-the-counter transactions, private trades between two parties...
...Federal Reserve to disclose the recipients of its lending during the financial crisis and to open up to an examination of its programs that have “injected liquidity into the money markets” and will examine “whether the credit facility inappropriately favors one or more specific participants over other institutions eligible to utilize the facility.” By examining who has received credit from the Federal Reserve during the crisis, this amendment sets a political precedent that could result in a constrained central banking authority during future crises...
...even greater scale, this amendment violates one of the basic foundational principles of our central banking system: Our economy hinges on the trust that we place in the Federal Reserve to look out for the best interests of the economy at large, independent of any political influence whatsoever. Through administrations that might be victim to political pressures of all types, the Federal Reserve does what is right for the stability of our economy, be it the case of former Chairman Paul Volcker’s raising of interest rates to historically high levels in order to cut inflation...
...inequality. Be it the youthful spirit of progressivism, the rebellious disposition of young adults, or simply an ignorance of the realist demands of life not-yet-faced, college students do not have a reputation for sitting still amidst social injustice. The “Z-list” is one example of an institutional structure designed with little concern for socially equitable outcomes that has met with considerable animosity in recent months...
Most importantly, the College must support one of the strongest financial aid programs in the country. Compared to the 70 percent that receive financial aid in a full class at Harvard, the Z-list has little more than 14 percent of its members on aid of any kind. Although Dean of Admissions and Financial Aid William R. Fitzsimmons ’67 denies economic motivation behind Z-list decisions, the financial security of those on the list suggests otherwise. But if it is the case that these students are a financial asset to the College, than they are as equally...