Word: schwartze
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...credit depends on a threshold of trust to lubricate functioning capital markets. If financial institutions, as creditors, do not trust their debtors—be they individuals, investment funds, or other banks—these institutions will not lend. As the grand dame of economic historians, Anna Schwartz, said in October: “The basic problem for the markets is [uncertainty] that the balance sheets of financial firms are credible...
...Schwartz should know. In 1963, she and Milton Friedman published the 888-page tome “A Monetary History of the United States.” In it, they argued that the Federal Reserve Board failed to prevent a succession of bank failures and, thus, failed to inspire confidence in the market in 1932 and 1933 because it lacked the “vigorous intellectual leadership” necessary to do so. Weak leadership did not overcome antagonism between the 10-year-old Fed and the New York Clearinghouse—a fate that could befall Geithner?...
...over Alex Vasin and Justen Roth, while Sasha Ermakov and Chijoff-Evans defeated Laalej and Phil Law 8-2. The Crimson took a quick 3-0 lead as No. 5 Mangham defeated Vasin, 6-2, 6-2, while No. 2 Ermakov beat Jonathan Boym (6-2, 6-3). Adam Schwartz of Penn ousted Hayes (7-6, 7-6) in an emotional match, inspiring the Quakers to tie the score at 3-3. Law beat Felton (7-6, 7-5), and Jason Lin came from one set down against Omodele-Lucien to win in the third...
...Nearby is the Abraham Lincoln Presidential Library and Museum, a modern, multi-media complex that houses one of the best collections of Lincoln materials in the world. As Illinois State Historian Thomas Schwartz explained to me recently, Springfield had the good fortune to have a Lincoln buff serving as governor during the Great Depression. He budgeted for acquisitions at a time when prices were low. "We were able to collect material at a time when there was not much interest and not much money...
...more than ever,” Lewy said, “Hollywood is not the fringe direction for Harvard graduates that it was 20 years ago.” —Anita B. Hofschneider contributed to the reporting of this story. —Staff writer Madeleine M. Schwartz can be reached at mschwart@fas.harvard.edu...