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...probably already pointed out that the publication date of Dan Brown's The Da Vinci Code - March 18, 2003 - came just two days before the U.S. invasion of Iraq. That isn't a conspiracy, it's just a coincidence. But it does - as fans of The Da Vinci Code often say - make you think...
First, the fragility. Allowing Lehman to fail - cited often as the government's biggest boo-boo - started a chain reaction. There was a run on money-market funds after one big money-market fund revealed that it owned a lot of suddenly worthless Lehman debt. London-based hedge funds that relied on Lehman for day-to-day financing found themselves unable to do business because their accounts with Lehman's U.K. subsidiary were frozen. Similar dislocations played out around the world. Before long, financial institutions were paralyzed by fear. They simply didn't trust each other anymore, and didn...
Leaving the Harvard bubble: “Often. Why? Yale, am I right?” “I think just a couple times a month.” “Maybe once a week.” “MIT parties...
...person charged with overseeing the Faculty of Arts and Sciences and its budget, people often ask me: “Sure, Harvard and the FAS have lost a lot of their endowment, but you still have tens of billions of dollars. Can’t you spend more of it now to avoid making difficult or painful budget cuts...
...Berlusconi can be measured as the sum of his appetites and ego. They are what have helped make him the most influential Italian of his generation. But his often uncontrollable desire to persuade and seduce - rather than the petty calculations of his foes - is the one thing that could bring everything crashing down around...