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Here's how it worked. The FDIC decided to run the bank itself rather than rely on the bank's past managers or hire new ones. So almost immediately after the agency took over IndyMac last July, it sent over two of its top officials, chief operating officer John Bovenzi and Dallas-based assistant director Rick Hoffman, to Pasadena, Calif., to run the bank. Bovenzi became IndyMac's CEO. Hoffman took on the role of president. For Bovenzi and Hoffman, cost-cutting was high on their agenda. They slashed the rate the bank was paying on certificates of deposit. Expensive...
...things may not be as bad as they seem. Banking analysts suggest that talk of a sovereign default is overblown, and say not all banks are struggling to pay out. Even more promisingly, Yushchenko and Tymoshenko announced a truce at the end of last week and sent a revised anti-crisis plan to the IMF in the hope of securing further funds...
Other campus groups have reportedly had trouble booking events at the normally lax CCAE, and now we know why: Crimson Key president Lee Ann W. Custer '10, who is also a Crimson Arts editor, sent a facebook message to attendees explaining that...
...Among other things, Petraeus' review called for additional troops to be sent to Afghanistan, beyond the 17,000 Obama ordered. The Administration wasn't ready to do that, at least not yet. And so, the fourth policy review was ordered up - this one conducted by Bruce Riedel, a scholar at the Brookings Institution. The Riedel review won't be done until the end of March, but it has already achieved some clarity about U.S. goals and priorities: "Afghanistan pales in comparison to the problems in Pakistan," said an official familiar with Riedel's thinking. "Our primary goal...
...most important decision will be made: To escalate or not? The military is in favor of an Afghan surge to protect the entire population in the provinces affected by the Taliban insurgency. That could mean another 15,000 troops, or more, on top of the 17,000 already sent. It might even succeed; the Afghan people are terrified by the Taliban, but they do want law and order - which the corrupt Karzai government has failed to provide and Petraeus-style counterinsurgency tactics emphasize. But why expend that sort of effort on a sideshow...