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...primary reason that news organizations gave the bank story so much space was that the public knew the tests were a fraud. Warren Buffett said so, along with a number of other financial analysts. Bank balance sheets are so complex that applying one set of measures for all of them is irresponsible reductionism, these analysts argued. The second part of the fraud was much more elaborate. The government, led by Henry Paulson, forced large banks to take TARP money that they did not need. He made sure that the taxpayers received preferred shares in the firms in exchange...
...stress tests may do most for depositors, letting them know that their financial institutions are either in good shape or being repaired. That may allow the government to start rolling back some of extra safety nets it has set up over the past year. So even though the stress tests may not be a boon for investors, they are still a positive development...
...foundations of the Porsche brand. Piech has long had ambitions of bringing Porsche under VW's roof and has been working for years to build VW into the world's leading car company. VW sold 6.27 million cars last year, and Piech, VW execs have said, has his sights set on overtaking Toyota, which sold 8.9 million cars, and GM, which sold 8.35 million. (See pictures of a brief history of Pontiac...
...MenSpeakUp is a group with big plans. At the site’s Cambridge launch event in April, Hugo Van Vuuren ’07, a leader of MenSpeakUp efforts, suggested that the campaign has set its sights on the world beyond Harvard. “Because if I am the 14-year-old guy in Nebraska, I will see that these cool guys at Harvard care about this, so if I care about this, it won’t make me any less cool,” he told his audience...
...also particularly troubling that, as per the seller’s stipulations, a large portion of the building would have to be set aside for “progressive social organizations,” a term that, while nebulous, connotes a certain ideological leaning the UC has no business promoting with its real estate. The UC is a body intended to represent Harvard’s entire undergraduate population, and no social space it attempts to create should ever alienate those students whose political views may not necessarily be classified as “progressive...