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Nonetheless, even if foreigner investors' role in America's credit boom and bust is debatable, what's beyond doubt is that this aspect of the crisis is not getting as much attention as, say, bankers and their bonuses. On Thursday, the Financial Crisis Inquiry Commission wrapped up its second day of hearings. Global imbalances is one of the 22 areas that the panel is supposed to investigate as a possible cause of the credit crunch. But in two days of hearings, which included testimony from top financial executives, economists, analysts, regulators and a hedge fund manager, there wasn...

Author: /time Magazine | Title: Did Foreigners Cause America's Financial Crisis? | 1/15/2010 | See Source »

...word has spread fast—landing on the front page of major newspapers, traveling into the confines of Harvard Yard, and even prompting University President Drew G. Faust to send a statement on Thursday asking the community to contribute to relief efforts on behalf of a shaken nation. And the Harvard community has done just that...

Author: By Xi Yu, CRIMSON STAFF WRITER | Title: Harvard Lends Helping Hands to a Shaken Country | 1/15/2010 | See Source »

...second approach, he said, is the establishment of facilities in Port-au-Prince to bolster emergency treatment and to identify the patients who require more advanced surgery and must be transported to the Plateau. On Thursday night, PIH posted a lengthy list of immediate needs on its Web site, citing concerns related to transportation and supplies...

Author: By Xi Yu, CRIMSON STAFF WRITER | Title: Harvard Lends Helping Hands to a Shaken Country | 1/15/2010 | See Source »

...paid for by the Senate campaign of Democrat Martha Coakley, but its regular-guy-against-the-rich strategy was developed months ago by top White House aides, who know their party faces a perilous election this fall. This same strategy was much in evidence at the White House Thursday, when President Obama proposed a new tax on large banks to compensate for losses suffered by taxpayers in bailouts of the financial industry that began in the final months of the Bush Administration. "We want our money back, and we are going to get it," the President said, using unusually informal...

Author: /time Magazine | Title: Taking on the Banks: Obama's New Populist Pitch | 1/15/2010 | See Source »

...stands, there is little reason for Democrats to be optimistic about 2010. On Thursday, the widely-respected political handicapper Charlie Cook explained that current polls suggest Republicans will enjoy a net gain of 20-30 House seats this fall. But he added a cautionary note: "It is important to note that while one party has never won all of the competitive races in any given election cycle (currently Republicans would need to win all 50 competitive seats to win 218 seats in the House), the likelihood of one or two dozen potentially competitive Democratic seats entering the danger zone...

Author: /time Magazine | Title: Taking on the Banks: Obama's New Populist Pitch | 1/15/2010 | See Source »

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