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...unprecedented take-over of insurance giant AIG, the shares were punished. Mack got in touch with the chairman of the Securities and Exchange Commission and the Treasury Secretary, and then sent out an e-mail to employees: "It's very clear to me," he wrote, "we're in the midst of a market controlled by fear and rumors, and short sellers are driving our stock down...

Author: /time Magazine | Title: Can Morgan Stanley and Goldman Sachs Go It Alone? | 9/18/2008 | See Source »

...Morgan Stanley and Goldman Sachs in their sights, sparking speculation that the last two remaining go-it-alone investment banking giants may have to find a deep-pocketed commercial bank to partner up with. "What's happening out there? It's very clear to me - we're in the midst of a market controlled by fear and rumors, and short sellers are driving our stock down," fumed John Mack, CEO of Morgan Stanley, in a memo to employees. "You should know that the Management Committee and I are taking every step possible to stop this irresponsible action in the market...

Author: /time Magazine | Title: Are Short Sellers to Blame for the Financial Crisis? | 9/18/2008 | See Source »

...shares worth billions earlier this year only to see the stock plummet in recent months. So for now, Arab investors are likely to refocus on infrastructure projects in their own countries that create real value and services for their economies, which are bound to keep growing even in the midst of a Western financial crisis...

Author: /time Magazine | Title: The Slump Hits the Gulf: No More Palm Islands? | 9/17/2008 | See Source »

...Despite the fact that the University is not in the midst of a capital campaign, its fundraising level has kept it near the top of the heap in the world of higher education. In fiscal year 2007, Harvard’s $614 million haul was only exceeded by Stanford, which netted $832 million. The West Coast school is in the midst of a five-year, $4.3-billion capital campaign that is among the largest in the history of higher education...

Author: By Clifford M. Marks and Nathan C. Strauss, CRIMSON STAFF WRITERSS | Title: Harvard Raises Near-Record $651 Million | 9/15/2008 | See Source »

Sarah Palin has arrived in our midst with the force of a rocket-propelled grenade. She has boosted John McCain's candidacy and overwhelmed the presidential process in a way that no vice-presidential pick has since Thomas Eagleton did the precise opposite - sinking his sponsor, George McGovern, in 1972. Obviously, something beyond politics is happening here. We don't really know Palin as a politician yet, whether she is wise or foolhardy, substantive or empty. Our fascination with her - and it is a nonpartisan phenomenon - is driven by something more primal. The Palin surge illuminates the mythic power...

Author: /time Magazine | Title: Sarah Palin's Myth of America | 9/10/2008 | See Source »

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