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...nation's saving and lending by insuring deposits. When a bank fails, the FDIC makes up the difference between what's left and what's owed depositors, up to $250,000 per person per bank. Two years ago, the FDIC had about $52 billion in its deposit-insurance fund. Today that fund is technically broke. The agency has money reserved to cover anticipated failures but no cash remaining for unforeseen blowups. It has asked banks to prepay three years' worth of premiums and could seek emergency funds from the U.S. Treasury...
After Alfred Nobel's death in 1896, his executors discovered that the inventor of dynamite had secretly set aside about 35 million Swedish kronor (about $225 million today) for the creation of five annual prizes to honor those who bestowed the "greatest benefit on mankind" in science, literature and diplomacy. On Oct. 9, President Barack Obama won the most coveted and controversial of them all: the Nobel Peace Prize...
...handful cutting the deal. When the Clinton Administration attempted to pass health-care reform, Finance was its graveyard. This time, the idea survived the committee with unified Democratic support and a veneer of bipartisanship. It's a major step--but far from the final one. "My vote today is my vote today," Snowe said. "It doesn't forecast" what she might do down the road. In politics, as LBJ knew, the power of yes is meaningless unless twinned with the menace...
...Research Professor of Divinity Harvey G. Cox, best known for recently grazing his cow in Harvard Yard, and author of "When Jesus Came to Harvard," was also at the Book Festival. In a panel called “Matters of Faith”, he spoke about religion in society today...
...expressed that all the distractions in the world today “are inducing in us a cultural attention deficit syndrome...