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...Columbus Day was made a national holiday in 1934 by Franklin D. Roosevelt, class of 1904. John F. Kennedy ’40 revived it in 1963 to generate enthusiasm for space research with the proclamation: “we continue to honor Columbus’ daring as we search out the far reaches of space and of human possibility.” It is only in the past two decades that indigenous peoples and revisionist historians have objected to the celebration of Columbus Day, calling attention to the less-than-glorious eradication of the Indians that began when Columbus...
...arrived at the monastery grotto, the only sound to be heard is the cooing of two white doves overhead, as if to emphasize the sanctity of the setting. Since just a few centuries after the dawn of Christianity, holy men have come to the mountains of northern Lebanon in search of solitude, although the attraction of the ascetic life may have faded somewhat in the modern era. Father Dario, a 73 year-old Colombian priest, took up residence at Hawka eight years ago, becoming one of just three hermits left in Lebanon...
...global financial system sinks deeper into the abyss, policymakers and economists in Asia are reflecting on their own past financial meltdowns in search of lessons that could help the U.S. and Europe. As ministers for the G-7 group of industrialized nations meet in Washington today to discuss the crisis, Japanese officials in particular are expected to offer up guidance to their Western colleagues. "Japan can be of help by letting them know our experience of struggling" with economic turmoil, Japan's Finance Minister Shoichi Nakagawa told reporters Tuesday...
...World Bank officials are meeting in Washington on Oct. 13 to search for solutions to the current crisis. But the IMF's role will be limited, because the financial turmoil is global. The organization might be able to lend a hand in specific situations. On Thursday the IMF announced it was restarting an emergency lending program that had been active during the 1990s Asian crisis for developing countries. The IMF has already sent a mission to Iceland, which is suffering from a financial meltdown. "All kinds of cooperation has to be recommended," IMF managing director Dominique Strauss-Kahn told reporters...
...rate cuts' effect on Asian stock markets may not last as policymakers continue their search for a solution to the global financial crisis. According to a report in the New York Times, the U.S. Treasury Department is considering taking part ownership of U.S. banks, effectively guaranteeing the solvency of the country's financial system. Britain announced a similar plan to shore up shaky banks by helping them refinance debt in exchange for ownership stakes. That move toward partial nationalization of the banking system underscores just how deep - and how apparently uncontrollable - the financial panic has become. With few tools left...