Word: banks
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From working at China’s central bank to an orphanage in southern China, Harvard students who choose the country as their summer destination are exposed to a wide spectrum of Chinese cultural practices and lifestyles...
Under Lincoln’s proposal, hundreds of billions of dollars in existing derivatives trading would be spun off to entities such as hedge funds and foreign banks, which are beyond the scope of regulators, or associated bank entities that are not technically part of the bank, in both cases increasing risk and causing difficulties for regulators. It is smarter to keep derivatives trading within the major banks and impose tougher oversight and regulation on these institutions than to spin off the derivatives trading to where we can neither regulate nor examine the market...
...amendment has been narrowed in order to ensure that it will not aim to politically influence the creation and setting of monetary policy, it still interferes with the necessity of an independent Federal Reserve with the power to act in times of crisis. In the financial system, a bank does not need actually to be running out of money for a bank run to occur; there only needs to be the impression that the bank might be running out of money. This is why all of the major banks only received Troubled Asset Relief Program funds in concert, even though...
...outdo each other to see who can seem “toughest” on reform, but in the process, they are failing to understand which regulations really need to be in place for the economy to function well. Derivatives trading will occur throughout the future, whether in a bank or a distant unregulated entity, and it is best if it occurs in major banks under the watchful eyes of regulators. There will be future crises with politically unpopular but necessary monetary solutions, and an independent Federal Reserve will need to be there to solve them. Legislators are smart enough...
Note-passing—which, Alberts said, is one of the most common bank robbery methods in the United States—was also used in the robbery of the Harvard University Employees Credit Union last December...