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...stocks showing such strength? We've seen unprecedented liquidity being put to work in the U.S. on behalf of financials, so it was only going to be a matter of time before banks started to rise. Also, many investors have been so focused on the short term - all the recent steps taken by the Federal Reserve and the Treasury - that they have forgotten that the bank assist started in August of 2007 when the Fed cut the discount rate and opened the lending window to a wider list of financial companies. So this has been going on for a little...
...Maldivian youth are in the middle of a drug epidemic that, proportionate to the nation's population, may be one of the worst in the world. The legacy of Gayoom's rule lingers, and the process of unraveling it will last far longer than Nasheed's current five-year term. Entire political institutions - a free press, an independent judiciary, a multiparty legislature - are emerging where there were none...
...there—hunched before your computer, reading this blog post in an irrational, desperate attempt to avoid studying for your final—you may be feeling kind of down. You don’t recognize any of the terms on your study guide because you haven’t gone to lecture since the midterm. A semester’s worth of books, in pristine condition, tower around you in tall, menacing stacks. There are less than 24 hours until your exam begins and you realize—as the nonchalance of reading period crashes and burns around...
...result, California's budget process has an Alice in Wonderland quality. One confused voter, in an online letter to the Los Angeles Times, quoted Winnie the Pooh: 'This all makes my head hurt a bit." Regarding Proposition 1A, which would place long-term spending restrictions on state government and extend already approved taxes up to two years, the voter wrote: "Why do they need a new rainy-day fund when we already have two? ... The rest of the measures are even more confusing and convoluted. How can they expect us - with our own lives to manage - to sort...
Early in his term, Schwarzenegger tried to pass a series of conservative reform initiatives only to be soundly defeated by liberals led by the powerful California Teachers Association (CTA). This time around Schwarzenegger has let the CTA and other interest groups lead the effort to pass the budget measures. But the relatively few voters following the arguments largely remain skeptical of the proponents' basic message: "Trust us, these measures will fix the problem...