Word: thaws
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...efforts to guarantee bank accounts and bolster financial firms. In a coordinated swoop, governments around the world cut interest rates; two days ago, in the U.S., the Fed took the unprecedented step of saying it would start buying commercial paper, short-term corporate IOUs, in yet another attempt to thaw frozen credit markets...
...funding for research. Over the past eight years, the Bush administration has repeatedly tightened the purse strings of the NIH; today only one in every four grant application is funded. Federal budget constraints will continue to tighten in the next few years, even if the credit markets begin to thaw. As the stock market continues to fall and central banks race to cut interest rates, the future of all institutions, especially nonprofits, is hazy. Because of this, Harvard needs philanthropy—particularly for scientific research—now more than ever. Donations are crucial for the development of higher...
...suffering through a financial crisis of historic proportions. Causing needless confrontation with China by building an incredibly expensive, untested, and provocative national missile shield would invite military aggression against important American allies such as Japan and South Korea. Needless to say, it is also likely that the recent thaw in cross-strait relations between Taiwan and China would be adversely affected as well. This is not to say, however, that the United States government should give Beijing a blank check to conduct its affairs as it wishes. We are extremely concerned about several issues where further Sino-American cooperation...
...week unfolded, ad hoc solutions from Bernanke’s Fed and the Treasury, led by the vigorous former Goldman Sachs CEO Henry M. “Hank” Paulson, proved unable to bring lasting calm to the market: Neither lower interest rates, nor greatly expanded liquidity helped thaw frozen credit markets. Even after brokered shotgun weddings like those of Merrill Lynch and Bank of America or Bear Stearns and JP Morgan Chase, what Professor Kenneth Rogoff once called the “flagship” American sector, the financial services industry, seems to have no bottom...
...brink of war. (A World Cup qualifier in which El Salvador beat Honduras in 1969 saw long-running tensions erupt into a brief war.) But many in Turkey and Armenia are seeing their national teams' World Cup encounter in Yerevan on Saturday as an opportunity to help thaw the troubled relationship between the two countries...