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...role of proprietary trading - when banks buy and sell investments for their own accounts rather than their clients - and other principal investments in the financial crisis is getting new scrutiny. On Thursday, Feb. 4, the Senate Banking Committee held its second hearing in a week on President Obama's proposal to keep banks, which hold federally insured deposits, from engaging in such risky businesses as proprietary trading and hedge-fund and private-equity-fund investing (all three activities contain some element of trading or investing for the firm's own account, possibly employing leverage). Many have dismissed the so-called...

Author: /time Magazine | Title: Is Proprietary Trading Too Wild for Wall Street? | 2/5/2010 | See Source »

...bail out one of its hedge funds. And Citigroup has poured more than $3 billion into fixing its problems with structured investment vehicles, investments the bank set up with its own capital. Like Merrill, Citi lost big - as much as $15 billion, on the CDOs it decided to hold rather than sell off. In fact, nearly every large financial firm that stumbled during the financial crisis had billions of dollars in proprietary-trading or hedge-fund losses. (See the worst business deals...

Author: /time Magazine | Title: Is Proprietary Trading Too Wild for Wall Street? | 2/5/2010 | See Source »

...sets and midterm exams build up. The typical Harvard student reacts to the stress by working even harder, pulling all nighters in Lamont, or doing painful cram sessions. However, this semester, students might find that the key to surviving the stressful times can be found on a MAC treadmill, rather than a Widener carousel...

Author: By Peter L. Knudson | Title: Tread Mill Therapy | 2/5/2010 | See Source »

Geoffrey Little—a spokesman for the Yale University Library, which chose to cut its collections budget rather than lay off employees last year—said that top administrators had painted a grim outlook during a series of town hall meetings in early December...

Author: By Noah S. Rayman and Elyssa A. L. Spitzer, CRIMSON STAFF WRITERS | Title: Yale Announces New Wave of Budget Cuts | 2/5/2010 | See Source »

...object of all of that attention was Fiorina's fiercely negative message: that Campbell, the front runner in the polls for the GOP nomination, was not a true fiscal conservative. Rather, he was a wolf in sheep's clothing, a "fiscal conservative in name only." The Campbell campaign responded by deploying its new-media consultant, Mindy Finn, on Twitter to try to direct the viral buzz. "If the GOP has any hope of taking back the senate it won't be by accusing each other of being #demonsheep," she wrote in one post, having already rated the spot a "marketing...

Author: /time Magazine | Title: The GOP Mastermind of Carly Fiorina's Demon-Sheep Ad | 2/5/2010 | See Source »

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