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...could help temporarily improve those banks' standing, but there's no certainty it will adequately ease the flow of lending in a market permeated by fear of further failures. In fact, the Federal Reserve's move Tuesday to take an active role in the commercial paper market for short-term loans was a tacit acknowledgement that the bailout bill will not on its own stem the bleeding...
...market had initially been buoyed by decisions that occurred before it opened - both the Fed's decision to buy the short-term debt, called commercial paper, that companies issue to fund expenses like payroll and inventory, and the Reserve Bank of Australia's surprising decision to cut its official interest rate by a full percentage point...
...urgently need a Kyoto Protocol for financial climate change with clear objectives: elaborate policies to reduce the greed-house effect and reverse the decline of ethical values. Take measures to stop and fine the emission of toxic investment funds. Promote and reward the development of sound long-term financial products. Ray Moser, LAUSANNE, SWITZERLAND...
Adams House Master Judith S. Palfrey ’67, a pediatrician at Children’s Hospital Boston, was named president of the American Academy of Pediatrics late last week. She will serve a three-year term as head of the nation’s largest pediatrics organization in addition to fulfilling her responsibilities as a physician and Harvard professor. To win the position, Palfrey successfully navigated a nine-month-long process that included rigorous interviews and a nation-wide campaign culminating in an election before the 60,000 members of the academy. “Because you?...
...highest court in the U.S. begins its 2008 term Oct. 6, TIME breaks down four significant cases to watch...