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...Shanghai has always prospered as China's gateway to the world. While Beijing may boast millenniums of history, Shanghai owes its prominence to having served as a key trading port for colonial powers. As China accelerated market reforms in the 1990s, the country's first stock exchange was established in Shanghai, and much of the foreign direct investment that flows into China comes through here. Fashion houses, banks and law firms gravitate first to Shanghai, not Beijing. Still, the past couple of years have not been kind to the city. A cancerous corruption scandal, uncovered by the overlords in Beijing...
...Buddhist and was a member of the undergraduate panel with Meacham and Quinn. “The panel was valuable,” Birdsall said. “It was enlightening to listen to the panelists share their spiritual backgrounds with each other.” During the key-note address, Quinn described her transition from feeling “contempt and disdain for any kind of religious person” to now no longer calling herself an atheist. “Religion touches everything in our lives. You can’t be a truly informed person unless...
...three different parts of the same house. One Ayckbourn play moves backward in time. Another conflates all the action in a house, from living room to attic, into a single stage space. His ingenious, nearly unstageable Intimate Exchanges has 16 permutations, depending on the choices made by characters at key points in the action...
Paulson has reason to strut, and it's not just because he pushes around foreign governments and big bankers in his spare time, or that he has pictures of himself handling snakes decorating his office. The key reason he thinks he'll win this encounter with Congress is that this is one deal that really must get done. Last Thursday the great American credit panic of 2008 was on the verge of halting the country's financial circulatory system. Anyone with money to lend was hoarding it and big institutions were starting a run on the money market funds that...
...Freddie Mac didn't stop the bleeding. When things looked like they were headed for a crisis at the beginning of last week, he had a team up literally all night working with the Federal Reserve to frame a deliberately vague proposal that could make it through Congress. The key issue was to get something that could pass, and quickly, as failure would produce a panic that would be unstoppable. What they came up with was the broad, three-page plan giving the Treasury $700 billion to buy back Wall Street's toxic mortgage-backed assets and eventually repackage...