Word: mellonized
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...current economic crisis is a black swan. “There was tremendous uncertainty [in the fall] with Bear Stearns, Lehman Brothers, and AIG, and I don’t think anybody knew what was going to happen.”John F. Flahive, a vice president at BNY Mellon Wealth Management, which purchased $10 million of Harvard’s tax-exempt bonds, said that he does not think the bonds’ rates were inappropriate, nor does he think that the University’s collateral obligations forced financiers to issue debt at unfavorable rates...
...system was a gift. Unsurprisingly, it was a gift from a wealthy white man. Surprisingly, this particular man was a Yalie named Edward Stephen Harkness. With millions from his shares in the Rockefellers’ golden swan, Standard Oil, Harkness was a philanthropic plutocrat in the tradition of Carnegie, Mellon, and Rockefeller himself. After being rebuffed by Yale, Harkness came to University President A. Lawrence Lowell in the fall of 1928, offering over $3 million to build a residential college system that would “bring into each group men from different parts of the country, men with different...
...about $15,000 in unpaid medical bills and a similar amount in missed house payments. He has no significant assets; his home equity is gone. Houses comparable to his in more desirable neighborhoods are selling for less than the amount he owes to the Bank of New York Mellon. As the saying goes, Zachery is under water. It was this math that led him to Wagoner's bankruptcy office. (See pictures of the top 10 scared traders...
...authors of the study - psychologists Carey Morewedge of Carnegie Mellon University and Michael Norton of Harvard - offer a few theories. For one, dreams often feature familiar people and locations, which means we are less willing to dismiss them outright. Also, because we can't trace the content of dreams to an external source - because that content seems to arise spontaneously and from within - we can't explain it the way we can explain random thoughts that occur to us during waking hours. If you find yourself sitting at your desk and thinking about a bomb exploding in your office...
There are few things people won't do for money. That's the thinking behind a new weight-loss study published by behavioral economists Kevin Volpp of the University of Pennsylvania School of Medicine and the Wharton School and George Lowenstein of Carnegie Mellon University. With a shocking 71% of Americans considered overweight or obese and most weight-reduction plans proving helpful at getting pounds off but far less so at keeping them off, Volpp and Lowenstein decided it was time to quit fooling around. Never mind fad diets and you-can-do-it affirmations. Better to just reward successful...