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...center banks. Their CEOs are talking about profits and paying back TARP money the same way that they were calling an end to banking write-offs a year ago. Former Lehman CEO Fuld said last April that the worst of the writedowns was probably over and Morgan Stanley (MS) chief John Mack said that the financial crisis was in the "eighth inning or top of the ninth." (See pictures of baseball...
...civilized ourselves out of really satisfying scapegoat rituals: The ancients would have staged a mass immolation of the AIG casino pigs in their private jets or crucified Bernie Madoff on the 18th hole at the Palm Beach Country Club, preceded by a public show trial with Jon Stewart as chief magistrate. You probably need an over-the-top catharsis or two like that to get the popular rage under control. As it is, guilt and anger are being splashed about chaotically and inefficiently--and people like Barack Obama, who had nothing at all to do with the creation of this...
...them forever--not just as volunteers but also as cash donors when the economy revives, says John Power, executive director of the Volunteer Center in San Francisco. Power is seeing more volunteers turned back to him by agencies that can't handle the larger numbers. Furthermore, he says, a chief concern now is that as nonprofits look to cut their budgets, the first heads to roll may be the paid staff that oversees volunteers. Suddenly volunteers won't get the training they need, and their whole experience goes downhill from there. One in three volunteers does not return, according...
...percent in dollar value for the next fiscal year and is projected to fall by at least another 8 percent from 2010 to 2011—meaning that the payout in two years will have shrunk by over 15 percent from this year, the University’s Chief Financial Officer Daniel S. Shore said yesterday. The new budget guidance marks a departure from University instructions issued in the fall, which directed Harvard administrators to plan for scenarios ranging from a flat payout to a 2 percent decline in dollar value. Harvard officials were forced to reevaluate planning assumptions...
Adding to the speculation is the fact that Putin and Medvedev's supporters are "almost in open conflict," says Petrov. "Medvedev's people are pretty openly criticizing Vladislav Surkov" - the deputy chief of staff in Medvedev's Kremlin who is a Putin loyalist...