Links — May 8, 2009, 9:34 am

Links

1879-06-0087

From the Web

So, are the stress tests worthless? They did provide a much clearer picture of the position of individual banks than we had previously. It is worth noting that this is a 180 degree shift from the original course pursued by Treasury Secretary Henry Paulson last fall. Paulson tried to conceal the situation of individual banks, putting a cloud over all of them. Treasury also should be credited for disclosing many of the specifics of the stress tests so it is possible to do a quick (or more in depth) analysis of its assumptions and explore the implications of alternative assumptions. Still, it is hard not to conclude that these stress tests, and certainly the PR campaign around them, were intended to paint as positive a picture as possible of the banks’ financial condition. If this picture proves to be wrong then it means that we will have unnecessarily delayed the clean-up of the financial system. It will also be bad political news for the administration (Geithner and Summers will presumably be joining the ranks of the unemployed).”

It is a slow yet steady process. Before the price of aluminum fell to 30 cents a pound, from 85 cents, he had accumulated more than $10,000, he said, almost enough to pay the electrician. But despite such progress, last Friday a worker from the Federal Emergency Management Agency delivered a letter informing him that it would soon repossess the trailer that is, for now, his only home. ‘I need the trailer,’ said Mr. Hammond, 70. ‘I ain’t got nowhere to go if they take the trailer.’ Though more than 4,000 Louisiana homeowners have received rebuilding money only in the last six months, or are struggling with inadequate grants or no money at all, FEMA is intent on taking away their trailers by the end of May. The deadline, which ends temporary housing before permanent housing has replaced it, has become a stark example of recovery programs that seem almost to be working against one another.”

“A lawyer who wants to see what a potential witness says to personal contacts on his or her Facebook or MySpace page has one good option, a recent ethics opinion suggests: Ask for access. Alternative approaches, such as secretly sending a third party to ‘friend’ a Facebook user, are unethical because they are deceptive, says the Philadelphia Bar Association in a March advisory opinion.” (via)

Share
Single Page

Get access to 165 years of
Harper’s for only $45.99

United States Canada

CATEGORIES

THE CURRENT ISSUE

July 2016

The Ideology of Isolation

= Subscribers only.
Sign in here.
Subscribe here.

American Idle

= Subscribers only.
Sign in here.
Subscribe here.

My Holy Land Vacation

= Subscribers only.
Sign in here.
Subscribe here.

The City That Bleeds

= Subscribers only.
Sign in here.
Subscribe here.

El Bloqueo

= Subscribers only.
Sign in here.
Subscribe here.

Vladivostok Station

= Subscribers only.
Sign in here.
Subscribe here.

view Table Content

FEATURED ON HARPERS.ORG

Article
My Holy Land Vacation·

= Subscribers only.
Sign in here.
Subscribe here.

"I wanted to more fully understand why conservative politics had become synonymous with no-questions-asked support of Israel."
Illustration (detail) by Matthew Richardson
Post
Inside the July Issue·

= Subscribers only.
Sign in here.
Subscribe here.

Tom Bissell on touring Israel with Christian Zionists, Joy Gordon on the Cuban embargo, Lawrence Jackson on Freddie Gray and the makings of an American uprising, a story by Paul Yoon, and more

Freddie Gray’s relatives arrived for the trial in the afternoon, after the prep-school kids had left. By their dress, they seemed to have just gotten off work in the medical and clerical fields. The family did not appear at ease in the courtroom. They winced and dropped their heads as William Porter and his fellow officer Zachary Novak testified to opening the doors of their police van last April and finding Freddie paralyzed, unresponsive, with mucus pooling at his mouth and nose. Four women and one man mournfully listened as the officers described needing to get gloves before they could touch him.

The first of six Baltimore police officers to be brought before the court for their treatment of Freddie Gray, a black twenty-five-year-old whose death in their custody was the immediate cause of the city’s uprising last spring, William Porter is young, black, and on trial. Here in this courtroom, in this city, in this nation, race and the future seem so intertwined as to be the same thing.

Artwork: Camels, Jerusalem (detail) copyright Martin Parr/Magnum Photos
Post
Europe’s Hamilton Moment·

= Subscribers only.
Sign in here.
Subscribe here.

"We all know in France that as soon as a politician starts saying that some problem will be solved at the European level, that means no one is going to do anything."
Photograph (detail) by Stefan Boness
[Report]
How to Make Your Own AR-15·

= Subscribers only.
Sign in here.
Subscribe here.

Even if federal gun-control advocates got everything they wanted, they couldn’t prevent America’s most popular rifle from being made, sold, and used. Understanding why this is true requires an examination of how the firearm is made.
Illustration by Jeremy Traum
Article
The City That Bleeds·

= Subscribers only.
Sign in here.
Subscribe here.

"Here in this courtroom, in this city, in this nation, race and the future seem so intertwined as to be the same thing."
Photograph (detail) © Wil Sands/Fractures Collective

Minimum number of cats fitted with high-tech listening equipment in a 1967 CIA project:

1

Zoologists suggested that apes and humans share an ancestor who laughed.

A former prison in Philadelphia that has served as a horror-movie set was being prepared as a detention center for protesters arrested at the upcoming Democratic National Convention, and presumptive Republican presidential nominee Donald Trump fired his campaign manager.

Subscribe to the Weekly Review newsletter. Don’t worry, we won’t sell your email address!

HARPER’S FINEST

Mississippi Drift

By

Matt was happy enough to sustain himself on the detritus of a world he saw as careening toward self-destruction, and equally happy to scam a government he despised. 'I’m glad everyone’s so wasteful,' he told me. 'It supports my lifestyle.'

Subscribe Today