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...There's only one problem with the new policy: "It's just completely wrong," says Jimmy Wales, Wikipedia's co-founder. Wales says that reports of Wikipedia's clampdown to prevent errors have themselves been in error. Wikipedia's ruling body of volunteers never decided to impose restrictions on all articles about living people. Instead, the site will adopt "flagged protection" - the new method for requiring editorial approval before changes to Wikipedia go up - for a small number of articles, most likely on a case-by-case basis. (See the 50 best websites...
...case of big banks like Bank of America or Citigroup, the upfront payments could run to a few billions. But the FDIC and analysts say banks will be more than able to cover it. Cash flow is not their problem. Capital is. And because the prepayments won't hit earnings, at least not initially, those capital ratios we have been worried about to show if banks are solvent won't change. Banks, all too familiar with accounting tricks, seem overjoyed by the FDIC's solution...
...problem with the FDIC's solution is it does nothing to keep its fund officially out of the red. That's because the same accounting that allows banks to hide the costs will prevent the FDIC from marking up its own assets. Just as the banks get to add an asset to their balance sheet for the money they are prepaying, the FDIC has to book a liability for the money that it has received from the banks but is not actually entitled to yet. That liability will lower the balance of the FDIC's fund by the same amount...
...also be the year that all the Bush tax cuts expire. And Harris thinks that if a health-care overall gets passed, that could have significant unforeseen effects on the economy as well. S&P's chief economist, David Wyss, says he thinks most economists are tackling the tricky problem of predicting what will happen in 2011 by doing what they always do: predict the economy will do about average. The problem is that what economists have come to believe is average growth for the U.S. economy in recent years has been falling. The Congressional Budget Office recently said...
...with a boycott, led by some U.S. states, for harboring pilfered assets; and stiff sanctions helped convince Libya to disavow terrorism after the 1988 Lockerbie jetliner bombing. But those are generally the exceptions. "Putting a sanction on a country always seems to be an inexpensive way to address the problem," Senator Richard Lugar of Indiana has said. "Unfortunately, almost none of these sanctions have brought about change." That's particularly the case when they?re leveled unilaterally. A 1997 study by the Institute for International Economics found that since 1970, unilateral U.S. sanctions met their stated goals less than...