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Livstone leaves HMC at a time when media reports indicate that its director, Jane L. Mendillo, has carried out a campaign to partly restructure the organization after Harvard’s endowment plummeted 27.3 percent during the 2009 fiscal year...
...speech earlier this year, Mendillo said she had worked to adopt a more sophisticated risk management strategy in the University portfolio and allocate a larger percentage of its investments to cash holdings...
...Last year, when markets dropped precipitously, many institutions—including Harvard—reportedly scrambled for cash to meet their short term obligations...
Although increased liquidity and bank recapitalization have led to a much more sound and secure financial system, Obama has yet to publicize these developments, to his own detriment. Just a year ago, there were talks of a potential second Great Depression, but the aggressive actions taken by the Fed and Treasury Secretary Timothy Geithner have led financial analyst Richard Bove to conclude that “U.S. banks now have more capital as a percentage of assets than in any year since 1935.” Nevertheless, the perception remains that Washington is making all the wrong moves; critics...
...come roaring back into competition. The stakes are high in November; national opinion surveys show a two-percentage point GOP edge, and some polls even suggest that the Republicans could retake the Senate. Obama’s approval ratings have fallen by 24 percent in less than a year, in spite of having achieved his top legislative priority and overseeing a successful stabilization of the banking industry. Yes, the American people do tend to check their leaders by issuing them losses in midterm elections, but Obama’s performance doesn’t merit the dramatic backlash...