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...This doesn't seem like a simple cyclical shift in unemployment," says Thomas Lam, an economist who tracks the U.S. economy at the Singapore-based United Overseas Bank. "What we are seeing is a structural problem in the U.S. economy, and that means it will take a lot longer for the unemployed to find jobs." (See pictures of the global financial crisis...
After finally breaking its 15-game road losing streak with a win over New Hampshire last Wednesday, the Harvard men’s basketball team seemed to have finally shattered the other highest and hardest glass ceiling in America. At Colorado on Saturday, the Crimson sought to assure fans and opponents alike that the standout win was the beginning of a new trend by pulling a second road win against the Buffaloes. However, things began to fall apart in the closing moments for Harvard, and Colorado swept past the Crimson, 70-57. The Crimson’s high expectations...
...Goldman Sachs is one possible suitor. Its market capitalization of $21 billion is now slightly larger than Citigroup's. And at $53 a share, investors don't seem to be too worried about Goldman going under, yet. So Goldman could use its shares to finance an acquisition. What's more, Goldman might like to get its hands on Citi's $780 billion in bank deposits and 200 million customers. Goldman recently converted to a bank holding company and plans to start attracting bank deposits on its own. But opening up branches is costly. Buying Citi, even with its troubled assets...
...their campaign of co-opting police. Not that Mexico's woefully undertrained and underpaid cops are that hard a mark. But the relentless revelations of the breadth of the corruption - including allegations that officers under Mexico's Public Security Minister, Genaro Garcia Luna, were involved in high-profile kidnappings - seem to make a mockery of Calderón's efforts to stamp it out. "This is Calderón's Iraq," says Sergio Aguayo, a security expert at the Colegio de Mexico in Mexico City. "He declared war against the cartels, but he wasn't prepared for the size...
Traveling in Chile this week, Calderón insisted that his government "is strongly committed to fighting against not only organized crime but the corruption that organized crime generates and that has become entrenched over years and perhaps decades in the structures of power." It would seem that he made good headway this week. But as those years and decades have all too often shown in Mexico, the corruption usually gets generated at a far greater rate than any government can keep up with...