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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...
...Social space at Harvard is a real problem. But the Undergraduate Council’s potential purchase of 45 Mt. Auburn Street is an even bigger one. While admirably motivated, the plan is not a feasible solution and should be abandoned immediately. We commend the UC for working to solve the important issue of social space on campus, but its fixation on purchasing this particular property is unwise...
...current proposal, the building’s top two floors would remain inaccessible to the UC, leaving only the ground floor and basement, which requires heavy renovations to be usable. Even if the project did succeed, the potential improvements to student life to be derived from such a small space would not be significant enough to justify the incredible obstacles the UC must overcome. Especially given the restrictions that would be imposed on the UC’s use of the building—and the plans to use part of it as UC offices—45 Mt. Auburn...
...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...
...election, the insurers have indicated that they will play ball: they've said they will cover everyone, at the same rate, regardless of pre-existing condition. (There are caveats: the details of health insurance are devilish, and pitched battles are fought over arcana too obscure to cover in this space.) But more-liberal Democrats have decided to press the issue. They have proposed a "public" health-insurance option, similar to Medicare. They argue, correctly, that the profits made by insurance companies are a good part of what makes health care so expensive in the U.S. and that a public option...