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...Japan learned how to handle a financial crisis the hard way. In the 1990s, after stock and real estate bubbles imploded, the country experienced a financial debacle similar to the one facing the U.S. today. The result was the Lost Decade. Between 1992 and 2003, Japan's real GDP growth averaged less than 1% a year...
...came up with college bowls because there is a matching system in place, even though we wouldn’t consider this to be a normal market.” According to Roth, prior to 1992, teams would get bowl bids before the season was over, thus resulting in inefficient matchups. “Lots of markets unravel over time, with participants making moves too early,” Roth said. “For example, the Sugar Bowl would offer a bid to a top-ranked team that has four games left,” Roth continued...
...authenticity within the hip-hop discipline. Despite all his rhetoric, the artist formerly known as Nick Carter (not to be confused with former Backstreet Boy and brother of Aaron) mostly strives to maintain the credibility accumulated throughout a decade-long career as an independent rapper and filmmaker. As a result, his biggest fear doesn’t seem to be the destruction of the genre, but the destruction of his cred with a major label release. For the most part he succeeds in his mission of shaking up the nation. He schools rappers and listeners alike about their heritage...
...Office for the Arts. At the conclusion of the master class, Previn, making his first visit to Harvard in 26 years, was presented with the second annual Musician of the Year Award by the Harvard Music Society of Kirkland. The event was open to the public, and as a result, older musicians and fans were in attendance alongside Harvard students. “[Previn is] obviously a wonderful musician, and this [was] a great opportunity to see him in person,” audience member Andrew R. Milewski ’12 said. “Anytime I am able...
...collapse of Lehman Brothers, the $2.6 trillion market for state and city bonds has been virtually frozen - partly because investors are scared to own anything more dangerous than Treasuries, and partly because interest rates that cities must pay to lure buyers have shot up 25% or more. As a result, some $15 billion worth of projects have been temporarily shelved in the past three weeks, according to the consultancy Municipal Market Advisors. Broward County, Fla., pushed back plans to borrow $170 million for new sewer and water lines. Maine held off on a $50 million bond sale meant to finance...