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This past Sunday, The New York Times reported on one of the financial industry’s newest tactics—to securitize not mortgages, but bought-out life insurance policies. Wall Street firms buy policies from holders, continuing to pay monthly premiums until the original policyholder dies and the...
The original version of this article incorrectly indentified Senator Jay Rockefeller of West Virginia as a Representative.
When students entered the Yard last week to shop classes, they surely noticed the sea of pastel-colored chairs dotting the center of Harvard’s campus—and perhaps even stopped for a seat themselves. The 476 chairs and 82 tables, spread throughout the Yard and the...
Lewis is arguably the pioneer of the telethon - an indelibly American tradition that has since been adapted around the world to benefit various charities. But the first telethons managed to do without Lewis' particular brand of boosterism for a good four years after their debut in 1951, when a "television...
While some gang members say they are virtual prisoners of their poor neighborhoods, unable to leave the slums because of police crackdowns and threats from rival gangs, gang culture continues to spread. It has moved well beyond its original bases in the impoverished suburbs of the capital like Apopa and...