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...true that the Great Depression of the 1930s was a crisis of liquidity. Stocks plunged, banks went under, and the value of assets disintegrated. Our current policies would have been appropriate in the Great Depression, but they are not appropriate now. Liquidity problems are not the source of our current financial and economic woes. Incredibly, excess reserves of depository institutions have increased from under $2 billion in August to a record $774 billion in mid-December, according to the Federal Reserve's Dec. 18 release. But the banks have not taken advantage of this liquidity to increase their lending...
...butt off from day one. Fortunately for him, he’s being rewarded with more ice time,” Fraser said. “He’s on our power-play unit now and starting to see more offensive situations.”The Crimson also went 0-5 on the power-play, and despite the problems surrounding the defense, the Harvard’s penalty kill went an impressive 5-6. “Lake Superior State was a great team and we did not have an answer to match their play...
...Latin America) and showed the U.S. that its worst Monroe Doctrine impulses (not to mention the Mafia that was overrunning Cuba then) could be thwarted. People buy Che Guevara T shirts for more than just the lefty chic. The Miami exiles (many of whom backed Fidel Castro before he went communist) deserve their props too, despite the Elian Gonzalez mess. Most were not corrupt oligarchs and gusanos (worms, as Fidel Castro called them) but industrious working- or middle-class men and women who helped build modern Miami. In December, the Miami Herald unveiled an online database that gives the exiles...
...refugee agency released a small news item last week that went largely unnoticed: Kenya's Dadaab refugee camp, destination for tens of thousands of fleeing Somalis since 1991, was full. "All [newly arriving] refugees have to find a place with relatives or friends, we no longer have any land to provide them," a UNHCR field officer said. The three camps that comprise Dadaab were built with 60,000 refugees in mind. They now house 230,000, and tens of thousands more are expected in the coming months...
Like most Kenyans, Rachel Kung'u takes a do-it-yourself approach to security. Last year, police did nothing when gangs went on a killing spree and blocked the main road into Nairobi during ethnic violence following the elections. Kungu had to face down the thugs herself. Eventually, she persuaded them to back off. "I told them, now that you blocked the road, food cannot go through, people cannot flee," Kung'u remembers. "They were starving their own people...