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...number of economists and policy analysts believe Caballero makes a lot of sense. Alex Pollock of the American Enterprise Institute says it's clear the foreign investors who bought the bonds of mortgage guarantors Fannie Mae and Freddie Mac served to fuel the housing bubble. Ohio State University professor René Stulz, who has studied the financial crisis, says Caballero has hit on a critical contributor. Says Stulz, "Investors looking for safe investments in the U.S. created a demand for new products that caused our financial system to work differently from how it had worked in the past...
...have stopped U.S. investment bankers from creating mortgage bonds filled with risky home loans and then passing those bonds off as safe investments to foreign investors. "Most of the blame for the financial crisis lies in the choices that were made inside the U.S.," says Anil Kashyap, an economics professor at University of Chicago's Booth School of Business...
...History Professor Nancy F. Cott testified on Tuesday in a federal case against California's Proposition 8—which currently restricts same-sex marriage within state borders—to provide an overview of the various marriage restrictions in American history...
...past - the two countries fought a bloody border war in 1979, and in 1988 a naval battle near the Spratlys left 70 Vietnamese sailors dead. But it comes amid a steady buildup of Chinese might in the region. Ralf Emmers, an expert on the South China Sea and associate professor at the S. Rajaratnam School of International Studies in Singapore, says the Chinese tourism gambit is a move "to make its sovereignty claims over these islands a fait accompli." Vietnam watchers point to an escalation of tensions since the 2007 completion of a strategic Chinese submarine base on Hainan Island...
...grabbed pell-mell over the years in a scramble for land and influence. Malaysia has set up a diving resort on one of its own reefs, while most other nations have military posts on their islands. "The ASEAN model has been more or less useless," says Simon Shen, a professor of international relations at the Chinese University of Hong Kong. "The official discourse is [for claimant nations] to co-develop [the islands], but this is almost impossible given the nationalism the dispute inspires...