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...that Citigroup (C) and Bank of America (BAC) have done poorly on their "stress tests". Each bank may be encouraged to raise more capital. As a number of analysts have pointed out, private equity has no interest in stakes in troubled banks even at a steep discount to their current market values. To help improve banks' capital bases, the Administration will almost certainly have to take the money it has given and is about to give to banks, and convert it into common stock. That will crush current shareholders and it will create the problem of how taxpayers ever...
...will pay for half of the loss incurred by the loan owners, from the $50 billion bucket of money it had already pledged to housing-rescue programs. Mortgage servicers will be paid to make the change, and homeowners have their first-mortgage principal reduced as long as they stay current - by up to $250 a year for five years...
...replace them until the freeze is lifted, during which time undergraduate and graduate students would be unable to study under an expert in that field. For this reason, faculty should consider carefully the impact that their departure may have on the study of their field at Harvard under the current hiring freeze before taking a buyout...
...many faiths. All four members of the panel discussion agreed that religious leaders are uniquely suited to inspire people to protect the environment. But they said that sparking such inspiration is an enormous challenge. “It is difficult to frame in terms of religious tradition or current mission,” said panelist Willis J. Jenkins, assistant professor of social ethics at Yale Divinity School. “Environmental issues have to make theological sense. They have to make a community come alive.” In that vein, each panelist discussed practical ways to describe environmentalism...
...Indeed, the current army chief, Rookmangud Katawal, has a reputation for being a strident royalist and Maoist baiter. Katawal had been adopted by Mahendra, the father of King Gyanendra, whom the Maoists fought hard to bring down in their aim to abolish the monarchy. The army chief has long resisted the induction of the PLA into the Nepal army, and he courted trouble last November by beginning recruitment of 3,000 new soldiers before any former PLA guerrillas had been folded in - a move made without permission from the Ministry of Defense and against the provisions of the peace agreement...