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...banks' resistance may be the biggest hurdle Geithner faces in his plans to rebuild the financial sector. At the height of the crisis over the winter, there were neither buyers nor sellers for the toxic assets. Saddled with the assets on their balance sheets, the banks sharply curtailed lending, threatening to throw the economy into a tailspin. The Bush and Obama Administrations poured money into the banks to allow them to restart some lending, but the toxic assets remained on the banks' books. (See five lessons from the AIG-bonus blowup...

Author: /time Magazine | Title: Banks Balk at Selling Toxic Assets | 4/16/2009 | See Source »

...connection to the institution seems tenuous at best. In interviews, he rarely mentions his Harvard years.Later this month, Whitehead will embark on a tour to promote his new novel, “Sag Harbor,” an excerpt of which appeared in The New Yorker’s Winter Fiction Issue. Last time he was in town, in 2006, he drew a crowd of 75 people to the Brattle Theatre, according to Heather Gain of Harvard Book Store. This time when he is in Boston, he will read at Porter Square Books on May 7. When asked about...

Author: By Sanders I. Bernstein, CRIMSON STAFF WRITER | Title: Colson Whitehead '91 | 4/16/2009 | See Source »

...connection to the institution seems tenuous at best. In interviews, he rarely mentions his Harvard years.Later this month, Whitehead will embark on a tour to promote his new novel, “Sag Harbor,” an excerpt of which appeared in The New Yorker’s Winter Fiction Issue. Last time he was in town, in 2006, he drew a crowd of 75 people to the Brattle Theatre, according to Heather Gain of Harvard Book Store. This time when he is in Boston, he will read at Porter Square Books on May 7. When asked about...

Author: By Sanders I. Bernstein, CRIMSON STAFF WRITER | Title: Colson Whitehead ’91 | 4/15/2009 | See Source »

...less willing to buy what we can have for free: bottled-water sales have dropped 10%. The 137-year-old Los Angeles public library system set record highs in circulation and visitors. And film and camera sales have plunged 33% this year, because who would want this winter in their album...

Author: /time Magazine | Title: The Great Recession: America Becomes Thrift Nation | 4/15/2009 | See Source »

...Indeed, in many cases, the desperate effort to add on more courses and yet more extracurricular activities does seem like a frantic attempt to fill time. Students cram the day with meetings and work so that there is not the slightest opportunity for conversation. Summer vacation? Internship. Winter vacation? Fall back on the middle-school tactic and ask for extra work, formally known as the J-term...

Author: By Olivia M. Goldhill | Title: The Silver Lining | 4/14/2009 | See Source »

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