Word: prevention
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...team showed its resilience by defeating Presbyterian (S.C.) College, 17-2, on Friday. The Crimson (5-2) faced the Blue Hose (0-9) for the first time ever on a neutral site at George Walton High School in suburban Atlanta, but Harvard did not let any of these peculiarities prevent it from putting together a complete game. Sophomore attack Dean Gibbons scored the first of his career-high five goals nearly a minute into the game off a pass from freshman attack Jeff Cohen. Presbyterian also came out of the gates with energy and tied the game at one about...
...There are two major arguments against the level of regulation that the Administration would like. The first is that regulations do not prevent people from acting rashly or dishonestly. Rogue traders can still lose hundreds of millions of dollars on an investment bank trading floor with a PC and access to their firm's capital. Inside trading and naked shorting of stocks happen all the time, although both are illegal. Fighting regulation because some people refuse to be regulated turns out to be indefensible because the alternative is chaos...
...What is rarely mentioned is that the best CEOs spend most of their time thinking about what will put their companies out of business and doing something to prevent this catastrophe. Although it may be overly simplistic, GE did it decades ago when it diversified away from being in the light bulb and electric fan businesses that were its beginnings in the 1890s. Some investors would say that GE is too diverse now, but its system served the company well for the great majority of the years during the last century...
...Congress scaled back Obama's budget by resorting to the same kinds of accounting gimmicks the President had prided himself on avoiding, a fact Republicans were quick to point out. It dropped the long-term inclusion of the costly Alternative Minimum Tax fix - an annual must-pass bill to prevent the tax once intended for the superrich from hitting the middle class - and opted for a shorter time line of just five years vs. the 10-year budget the White House had crafted. "Given the state of the economy, everyone agrees that it's very difficult to predict the next...
...same time, they opened Fed lending to financial-services companies, making the Fed the lender of last resort for those firms, just as it is for traditional banks. In the past two days, Geithner unveiled the final two safeguards that he, Bernanke and Bair believe will help to prevent a future widespread financial meltdown: the power to take control of collapsing companies to ensure their failure is orderly and not contagious, and a limit to the amount of risk and leverage that non-bank financial players can take on. (Read TIME's Q&A with Sheila Bair...