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...number of Wall Streeters got wiped out because their wealth was tied to their firm's stock price. Dick Fuld, the former CEO of Lehman, had shares and options worth about $1 billion at their peak. He got less than $1 million when he sold them after the firm went bankrupt. (He still took home, before taxes, $490 million from his stock-based compensation, so don't cry for him.) James Cayne, CEO of the defunct Bear Stearns, was in a similar situation. If Fuld and Cayne had known their firms were as badly at risk as they proved...

Author: /time Magazine | Title: What's Still Wrong with Wall Street | 10/29/2009 | See Source »

Professor Henry Louis Gates, Jr., who was arrested by Cambridge police for breaking into his own house in July, went pubbing with Sgt. James Crowley at River Gods Bar & Restaurant last night. The two seem to have become way more chummy since the summer, when Gates virulently alleged that he had been racial profiled by police and called on Crowley to "beg my forgiveness...

Author: By Peter F. Zhu | Title: The story that doesn't go away | 10/29/2009 | See Source »

...together and figured that the homeless man had sold the body to the medical school (which was at Holden Chapel at that time) and kept the coat. During all this time, the young woman had been in seclusion. But when she learned of what happened she went to Holden Chapel to look for the remains of her fianc?...

Author: By EESHA D. DAVE, CONTRIBUTING WRITER | Title: Hey Professor! | 10/29/2009 | See Source »

However, all traces of the body were removed by then. So she went to Bedford and remained in seclusion. But during the first snowfall people see the ghost of this young woman walking through the Yard toward Holden Chapel in a long black mourning dress. There are never any footprints left where she treads, and it is said that she disappears as suddenly as she appears without leaving a trace...

Author: By EESHA D. DAVE, CONTRIBUTING WRITER | Title: Hey Professor! | 10/29/2009 | See Source »

...second prevailing myth of the Reagan Administration, quietly peddled by budget director David Stockman, went like this: O.K., supply-side economics is a phony, but we can use the growth of budget deficits as an argument for limiting the growth of government. That didn't work out so well either. The public demanded its entitlement programs - deficits be damned - and a strong defense, and loved having politicians who secured funding for a Yo-Yo Hall of Fame in their district. Deficits grew until the combined actions of George H.W. Bush and Bill Clinton caused the deficits to stop growing...

Author: /time Magazine | Title: Health Care: Do the Right Thing on Taxes | 10/29/2009 | See Source »

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