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...extra money wasn't put to productive use. Low interest rates and easy access to funds encouraged reckless lending, the infamous interest-only, no-down-payment, no-documentation ("liar") subprime mortgages. It was clear that if the bubble got deflated even a little, many mortgages would end up under water - with the price less than the value of the mortgage. That has happened - 12 million so far, and more every hour. Not only are the poor losing their homes, but they are also losing their life savings...

Author: /time Magazine | Title: Nobel Laureate: How to Get Out of the Financial Crisis | 10/17/2008 | See Source »

...before failing to even field a varsity eight at nationals last spring. “We had some great races in my sophomore year,” Overington said. “We were able to continually improve through the year and ended the dual season with an open-water win at the Harvard-Yale-Princeton race. Last season was disappointing—we’ve put it behind us, and we’re focusing on this season.” As he takes the helm as captain of the lightweight squad this year, he hopes...

Author: By Lucy D. Chen, CRIMSON STAFF WRITER | Title: Bowling them Overington | 10/17/2008 | See Source »

...involvement. She was 4000 miles away, in Ethiopia, excavating at the site of the “Lucy” skeleton—the key discovery in the search for the “missing link.”After she returned from her semester abroad, she hit the water stroking. The senior has not missed a beat, and this year, with a deep, talented crew, she is poised to reach new heights—while never forgetting to have fun.“My priority is to have a good time—to make sure everyone...

Author: By Walter E. Howell and Elizabeth A. Joyce, CRIMSON STAFF WRITERSS | Title: Perfecta Trifecta | 10/17/2008 | See Source »

...towering stature, men’s heavyweight crew captain Teddy Schreck projects a warmth that engages anyone, whether he’s displaying Quincy House pride or working nights as a bartender. But do not make the mistake of assuming his easygoing nature is a weakness while on the water. Rowing brings out an edge in him that has helped him claw his way up during his college career—from the second freshman eight boat to the championship four, competing this weekend in the 44th Head of the Charles Regatta.“[Schreck’s ascent...

Author: By Dennis J. Zheng, CONTRIBUTING WRITER | Title: The Evolution of Harvard's T-Schreck | 10/17/2008 | See Source »

...Israeli sleuths say they discovered that the limestone casket was indeed authentic, and dated back to the correct period of A.D. 60. But the key inscription, linking the object to Jesus Christ, was a clever fake. An analysis of the patina also revealed the presence of Tel Aviv tap water. In his defense, Golan claims it was because his mother occasionally scrubbed the ossuary with soap and water, not realizing its historical value...

Author: /time Magazine | Title: Fraudulent Relics and the Brother of Jesus | 10/16/2008 | See Source »

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