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Harvard’s decision to use derivative investments to lock in low interest rates on the school’s mounting debt cost the University $500 million this past year and will cost it at least $425 million more over the next few decades, according to the University’s annual financial report released Friday...
...drop in interest rates and liquidity considerations made it important for us to scale back the swaps substantially,” said University Treasurer James F. Rothenberg ’68 in a interview posted by Harvard. “That has come at a real cost, but at least we are now in a better risk position going forward...
...that, at least, there was a glimmer of truth. When the balloon landed in a soft, freshly ploughed field north of Denver International Airport, there was a leap of hope; when the rescuers found no one inside to rescue, a second, sinking fear took old. Had Falcon fallen out, or tried to jump; would his body be found broken somewhere near his house...
...more aggressive Soviet tactics, a spread of the war to the eastern provinces, attacks inside Pakistan, and more indiscriminate use of air power," Gates wrote in his 1996 autobiography. But it failed to turn the tide. So in February 1988, Gorbachev finally threw in the towel. But at least he could console himself with the belief that the vacuum created by withdrawing would not be filled by Moscow's key adversary. "The U.S.A.," Gorbachev told his Politburo colleagues, "is not going to send in its armed forces if we leave...
Sunday's suicide terrorism attack that killed at least five commanders of Iran's Revolutionary Guards Corps could have an impact far beyond the Islamic Republic's restive southeast border with Pakistan. Although the attack was orchestrated by the Sunni extremist group Jundullah - a separatist organization based among the Baluchi ethnic group that spans the Iran-Pakistan border and has for years conducted low-key terrorism strikes - many in Tehran blamed the bombing on a covert campaign by Western intelligence agencies to destabilize Iran. And that could cast a shadow over President Barack Obama's delicately poised effort to engage...