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...honor a commitment to put $9 billion into the U.S. investment firm. Whether their presumption was right or not, it appears that Paulson and Bernanke believed that a failure at Merrill could have been an event worse than the banking catastrophes of the 1930s. This will remain an unanswered question. Would the common equity value of America's largest financial firms have gone to zero in a matter of days if Merrill had gone bankrupt? Would bondholders have suffered huge losses? Would the trouble have spread to even the healthiest financial firms...

Author: /time Magazine | Title: The Waterboarding Of Ken Lewis | 4/24/2009 | See Source »

...message, asked, “I would like to say that I do not know who makes decisions for America, the president, the Congress, behind-the-scene elements?”, Washington may be understandably confused after Ahmadinejad’s mixed message in Geneva. However, a more crucial question to ask is how relevant Ahmadinejad’s anti-Zionist comments are to a U.S.-Iran negotiation. For the record, Ahmadinejad’s voice, as presented in the statement, only repeats Durban’s 2001 acrimony over Zionism and racism—no originality scored here. Ahmadinejad?...

Author: By Hengameh Saberi | Title: Do Not Miss the Cues | 4/24/2009 | See Source »

...Again, the U.S. administration has a choice to make: It could watch undecidedly as President Ahmadinejad’s rhetoric is blown out of proportion to picture Zionism as a central question of any U.S.-Iran relationship, or it could take stock of the recent welcoming signals by factions previously hostile to the very name of America to persist in pursuing dialogue in good faith. The Palestinian question, central to any conceivable peace in the Middle East, is not central to the beginning of U.S.-Iran negotiations. If a complex and dynamic nation, which cannot be naively summed...

Author: By Hengameh Saberi | Title: Do Not Miss the Cues | 4/24/2009 | See Source »

...question is, Would that be a good thing? Many outside observers have argued that the financial system needs shock treatment, in which the government takes over more banks and forces the entire banking system to flush bad assets from its books. If you priced all bank assets at current market values, the banking system would be insolvent, the reasoning goes, so make them take the hit and then press restart. Those with actual banking experience, though, tend to be dubious about market pricing and counsel patience. "The banks have a lot of practice at working out troubled assets, and most...

Author: /time Magazine | Title: Hooray for Boring Banks | 4/23/2009 | See Source »

...Donnell Field. Now, you may be wondering, as we are, how these actions make any sense. Haha we messed up Harvard's field, but wait, doesn't Dartmouth have to play there tomorrow and won't this be just as annoying for them? It appears that this question dawned on the current regime of "unidentified" vandals and prompted them to lash out in a much more practical fashion: by digging up part of the H on Soldiers Field. Ahh, enlightened shenanigans. Don't vandalize the field to be used, maim ANOTHER field...

Author: By Max N. Brondfield | Title: Dartmouth Fans Strike Again! | 4/23/2009 | See Source »

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