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...more than triple the $55.5 billion the firms had in revenue back in the first half of 2002. But the big difference is that in 2002, Wall Street was making money - nearly $8 billion in the first half of that year. This year financial firms are deeply in the red. They lost more than $15 billion in the first half of the year alone, and that was before the market's big plunge in the past few months. Says Frank Bruconi, chief economist in the New York City comptroller's office: "Had the federal government not stepped in with...

Author: /time Magazine | Title: How Washington's Bailout Will Boost Wall Street Bonuses | 10/27/2008 | See Source »

...reason for Monday's market plummet is little changed from that behind the last few weeks of red ink: Growing certainty that the world is headed into a deep, and probably long, recession. The pessimism is fuelled by statistics showing consumer spending and industrial production falling off in many major economies, and especially...

Author: /time Magazine | Title: The Market Gloom Continues | 10/27/2008 | See Source »

...People’s Republic of Cambridge in the heart of blue Massachusetts: the sort of community whose Oktoberfest parade features a Communist marching band and an elaborate float of pigs strapped to lipstick rockets. But the Harvard student body comes from all over—even from red states. More than 25 percent of the class of 2012 hails from the traditionally more conservative Midwest and South. In fact, Harvard’s world-class reputation enables it to attract people from diverse backgrounds with diverse viewpoints. The problem is that instead of allowing this diversity to promote enriching...

Author: By Alexandra A. Petri | Title: Don’t Ask, Don’t Tell | 10/27/2008 | See Source »

...seconds remaining in the period, Anderson’s pass was tipped by senior linebacker Glenn Dorris and intercepted by diving freshman corner Matt Hanson, leaving the score 14-10 at the break.“I thought we played an outstanding game except when we got inside the red zone on offense,” Hughes said. “We had a number of opportunities to put this game away, [and] we didn’t do it.”That stop before the half precipitated a marked improvement from the Crimson’s defense...

Author: By Brad Hinshelwood, CRIMSON STAFF WRITER | Title: Just Enough for a Win | 10/26/2008 | See Source »

...Something had to change at halftime, and change it did, as the Crimson recovered from its early struggles to limit the Tigers’ attack, especially in the fourth quarter. Princeton still managed to move the ball at will, but when it came down to the red zone, Harvard knuckled down and forced the Tigers to go for three.“I thought we played an outstanding game except when we got inside the red zone on offense,” Princeton coach Roger Hughes said. “We had a number of opportunities to put this game...

Author: By Madeleine I. Shapiro, CRIMSON STAFF WRITER | Title: SIDEBAR: D-Line Surges in Second Half | 10/26/2008 | See Source »

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