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...Citigroup Loan losses: Even after making a government deal, the bank is still on the hook for the first $40 billion in loan losses in the pool it has insured. Citi also has $277 billion in other, nonhousing consumer loans, such as credit cards and student debt. Roubini estimates that about 17% of consumer loans will go unpaid nationwide. That translates into a $47 billion river of red ink. Add in everything else (commercial real estate, corporate loans), and Citigroup will have to swallow $106 billion in loan losses...

Author: /time Magazine | Title: Can Your Bank Pass the Stress Test? | 2/19/2009 | See Source »

...this is a problem depends on whether you agree with Kaplan and Rauh's assessment of the forces behind rising Wall Street pay. If it was all a market phenomenon, it will now correct itself, as the financial sector's employee ranks and paychecks shrink to reflect the smaller pool of assets it has to play with. Overall income inequality is likely to drop sharply as well, Kaplan says...

Author: /time Magazine | Title: Pay Wall Street Less? Hell, Yes | 2/19/2009 | See Source »

...Bill Jaeger, director of the Harvard Union of Clerical and Technical Workers, called the firings “horrible” and said that unions at Harvard need to pool their resources to ensure that the University is “cutting extravagances and slowing down growth as much as possible” to ensure the welfare of workers and programs...

Author: By Peter F. Zhu, CRIMSON STAFF WRITER | Title: Harvard To Trim Custodial Staff | 2/18/2009 | See Source »

...sense of community,” she said.Mather House officials weren’t the only ones to report a measurable spike in tutor applications—Adams House Master Judith S. Palfrey ’67 said that she was excited about a larger pool of “diverse” applicants in Adams. Joshua D. Goldman, a fellowships tutor in Lowell House, said that though the number of annual applicants varies “widely,” applications were “much higher” this year.Pforzheimer House Allston-Burr Resident Dean Lisa Boes said...

Author: By Bita M. Assad and Ahmed N. Mabruk, CRIMSON STAFF WRITERSS | Title: Tutor Applications See Spike | 2/17/2009 | See Source »

...Undergraduate Council will loosen restrictions this week governing use of $45,000 of the Student Life Fund—a $75,000 pool created to finance student group travel and House formals—in order to allow more grants to be distributed in the upcoming semester. The fund, established in Sept. 2008, draws from Dean of the College Evelynn M. Hammonds’s discretionary budget. Prior to its creation, the UC only funded travel within the Boston area. But with just $2563.08 distributed to student groups for transportation costs last semester, the caps placed on the fund?...

Author: By Brittany M Llewellyn, CRIMSON STAFF WRITER | Title: UC To Loosen Rules For Student Life Funding | 2/17/2009 | See Source »

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