Word: rathering
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...were taken over. Troubled banks are generally closed on a Friday and given to new owners over the weekend. In most cases, the failed bank's branches reopen with a new name on the door the following Monday. The one exception is IndyMac, which the FDIC decided to nationalize rather than sell off immediately. (See the worst business deals...
Here's how it worked. The FDIC decided to run the bank itself rather than rely on the bank's past managers or hire new ones. So almost immediately after the agency took over IndyMac last July, it sent over two of its top officials, chief operating officer John Bovenzi and Dallas-based assistant director Rick Hoffman, to Pasadena, Calif., to run the bank. Bovenzi became IndyMac's CEO. Hoffman took on the role of president. For Bovenzi and Hoffman, cost-cutting was high on their agenda. They slashed the rate the bank was paying on certificates of deposit. Expensive...
...package. “I wish I could be confident that the array of U.S. policies already in place and those likely forthcoming will be helpful,” he wrote. “But I think it more likely that the economy will eventually recover despite these policies, rather than because of them.” Fellow Harvard economics professor Kenneth S. Rogoff wrote in an e-mail yesterday that he found Barro’s analysis “highly informative” and “certainly more credible” than quantitative economic forecasts circulated...
...free play for the benevolent or indulgent imagination,” Director of the Humanities Center Homi K. Bhabha said in his opening remarks for “Witness,” an event organized by the Center, featuring Toni Morrison and Yo-Yo Ma. “Rather [artistic] interpretation is an act of empathetic intersession, a way of giving voice to another place, person, or period, and setting the stage in their interest.”Co-sponsored by the Office of the President and Provost, the W.E.B. Du Bois Institute for African and African American Research...
...terrible statistics, but that hasn't stopped Scottish politicians and other interested parties from bickering like pub drunks over the best way to change the country's dangerous drinking culture. The government, a minority Scottish National Party administration, has found ways to introduce new measures by adapting existing legislation rather than seeking the support of opposition parties for new laws. Key points of the new strategy include the introduction of a minimum unit price of alcohol to stop strong drink from being sold cheaply, along with bans on cut-price promotions favored by supermarkets. Local police chiefs are being handed...