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...with government spending and jobs programs. The programs may be the wrong programs, but that is not something that is going to be known ahead of time. There are a number of gambles in the proposed federal budget and many of them will not pay off. Many of the plans that the Treasury has to improve bank balance sheets and lending will simply be a waste of money. There is no entirely convincing argument that helping worthy people who cannot pay their mortgages with their home loans will stabilize the housing market. The Fed's plan to buy as much...

Author: /time Magazine | Title: AIG Reaction: Stupidity and the Alchemy of Chaos | 3/20/2009 | See Source »

...another option to students, and that option is entrepreneurship and industry,” said Altmaier. Yesterday’s winners included Robert W. Corty ’10 and Zachary V. Smith ‘09, who hope to create a one stop destination for college students to plan holiday trips with their project, GetOutOfCambridge. The pair snagged one of the three $15,000 McKinley Family Grants awarded last night, which, Corty said, would be put to use hiring programmers to redesign the group’s sight. Smith said he hoped that their Web site, originally conceived...

Author: By Sami M. Khan, CONTRIBUTING WRITER | Title: Entrepreneurs Awarded Grants at I3 Challenge | 3/19/2009 | See Source »

...Institute’s endowment and budget are both contained within the Harvard Kennedy School. The proposals were drafted after the Kennedy School requested each of its divisions to submit three budgeting options, including one normal budget with no raises for faculty or staff members and contingency plans for five and ten percent reductions. “We don’t know currently how long or how deep the economic crisis will run,” said Melodie L. Jackson, associate dean for communications and public affairs at the Kennedy School. “At this stage, the contingency...

Author: By Evan T. R. Rosenman, CRIMSON STAFF WRITER | Title: IOP Proposes Budget Cuts | 3/19/2009 | See Source »

Harvard administrators have readjusted budget planning assumptions for the next two years to keep spending in line with expectations for a slow economic recovery. The payout from the endowment will decline by 8 percent in dollar value for the next fiscal year and is projected to fall by at least another 8 percent from 2010 to 2011—meaning that the payout in two years will have shrunk by over 15 percent from this year, the University’s Chief Financial Officer Daniel S. Shore said yesterday. The new budget guidance marks a departure from University instructions issued...

Author: By Athena Y. Jiang and June Q. Wu, CRIMSON STAFF WRITERSS | Title: Payout To Fall By Eight Percent | 3/19/2009 | See Source »

...from several directions. Senator Patrick Leahy continues to push for a truth commission to look into the more contentious Bush-era practices, including allegations of torture. And Senator Dianne Feinstein's Intelligence Committee has just launched a review of the CIA's interrogation and detention policies. (Read "Leahy's Plan to Probe Bush-Era Wrongdoings...

Author: /time Magazine | Title: What's Behind Dick Cheney's New Attacks? | 3/19/2009 | See Source »

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