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Though the Harvard men’s golf team entered yesterday’s second round of the Yale Spring Opener riding atop the leaderboard with a two-stroke lead, the Crimson’s Day 2 team score of 312 left the team with a frustrating sixth-place finish for the weekend. After Day 1, sophomore Michael Shore led all scorers with a two-under par 68, thanks to two front-nine birdies. Though Shore was the only player in the field to break 70, freshmen Danny Mayer and Greg Shuman carded 72 and 73, respectively, to finish...
...remedial economics after all. He was indicted a short time ago for securities fraud at an auto-parts manufacturer that he controlled. According to prosecutors, Stockman lied to banks about the firm's financial condition, inducing them to loan the company money it couldn't repay. He engaged in "round trip" transactions that involved masking loans - which were supposed to be repaid - as income. He exaggerated the manufacturer's prospects, knowing his claims were untrue, which led people to buy company securities that quickly became worthless. The firm filed for bankruptcy five days after Stockman was forced...
...tricks the Reaganites (including himself) used to deceive the public about the fiscal condition of the U.S. government. One was the "magic asterisk," used to bury wishful-thinking revenue assumptions in the footnotes, where it was hoped that nobody would discover them. This is essentially similar to the "round trip" loans described in Stockman's indictment last week. Then there is Rosy Scenario, a Cassandra in reverse, who gets carted out to proclaim that things are going to get better and better. Allegedly, false projections were also part of Stockman's arsenal of deceit in the auto-parts business, prosecutors...
...north and east, the government wants to keep the island whole. A federation seemed a possible compromise. But peace talks sputtered and then collapsed (both sides accused the other of being insincere), and since December 2005, Sri Lanka has again been at undeclared war with itself. The latest round of bloodletting is much like previous ones-bombings (including a Tuesday blast that killed 15, mostly women and children, in a bus), shellings, suicide attacks against political leaders, government air raids on rebel-held areas, abductions and disappearances of anyone believed to be aiding the other side. In the past...
...Iran's sudden decision to release the Britons may mean that the Western pressure on the Iranian regime is bearing fruit. A day after the Britons were taken captive, the U.N. Security Council passed the second set of sanctions against Iran in three months - and a third round of sanctions is anticipated if Iran does not freeze its uranium-enrichment program, which the U.S. fears could enable Tehran to produce a nuclear weapon. As Under Secretary of State R. Nicholas Burns told the Senate last week, "Despite the fulminations of President Ahmadinejad, Iran is not impervious to financial and diplomatic...