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...selecting a relative moderate with a strong chance of winning confirmation. Key Democrats on the Senate Finance Committee, which must approve Bernanke's nomination, have already given his candidacy a cautious welcome. "We need a careful, non-ideological person who understands that the Federal Reserve's main job is to fight inflation, and Ben Bernanke seems to fit that bill," said Sen. Charles Schumer, who sits on the panel. Schumer did criticize Bernanke, however, noting that as top White House economic advisor he had come out in favor of the extending the Bush tax cuts at a time when...
...English is as good as anything you would find in Seoul or Tokyo. Vice Principal Bak Ryong Gil says the youngsters are learning to use the Internet. Really, we ask, can they access it? No, he explains, they can only look at select material downloaded at the country's main computer-research center. "There is no Internet," says Bak, "but we have a plan." He says he can't tell us more...
Speaking just as a Harvard parent and a loyal Harvard alumnus, I think both the editorial (“In Safe Hands”) and the dissenting opinion (“Stop Matching Donations”) of Oct. 18 fail to identify the main reason why it is inappropriate for Harvard to donate to charities providing relief to the victims of natural disasters. Harvard really has no money of its own. It is merely the trustee for money given or paid to it for education and research, and funds resulting from reinvestment of such gifts and payments—funds...
...hopes of a slice. The local strength and worldwide reach of 'Ndrangheta is a bit hard to imagine amid the dilapidated piazzas and alleyways of Plati, a small town perched in the jagged hillside above Locri. The municipality of 4,000 is considered one of the clan's main strongholds. From here, the bosses orchestrate their international drug ring and send hit men out to whack rivals down in the flatlands of Calabria and beyond. Three years ago, local police discovered that town funds had been used to construct an intricate system of escape hatches leading from the center...
...Street and corporate America, is the ubiquitous 401(k). As Bush explained at a gathering at Auburn University in Montgomery, Ala., earlier this year, "When I was young, I didn't know anything about 401(k)s because I don't think they existed. Defined-benefit plans were the main source of retirement. Now they've got what they call defined-contribution plans. Workers are taking aside some of their own money and watching it grow through safe and secure investments...