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 164 years of
Harper’s for only $39.99

United States Canada

CATEGORIES

THE CURRENT ISSUE

October 2014

Cassandra Among the
Creeps

= Subscribers only.
Sign in here.
Subscribe here.

“Today Is Better Than Tomorrow”

= Subscribers only.
Sign in here.
Subscribe here.

PBS Self-Destructs

= Subscribers only.
Sign in here.
Subscribe here.

The Monkey Did It

= Subscribers only.
Sign in here.
Subscribe here.

view Table Content

FEATURED ON HARPERS.ORG

Post
“This is not a fable about a young woman whose dreams were dashed by a sexual predator. Maya’s narrative is one of institutional failure at a school desperately trying to adapt.”
Photograph © AP/Josh Reynolds
Article
Kandahar’s Mystery Executions·

= Subscribers only.
Sign in here.
Subscribe here.

“He told me he was made to stand on an ice block for thirty minutes at a time, and would then be forced to run barefoot across the gravel while an officer cable-whipped him.”
Photograph (detail) © Victor J. Blue
Article
The Tale of the Tape·

= Subscribers only.
Sign in here.
Subscribe here.

“Heroin isn’t the weakness Art Pepper submits to; it’s the passion he revels in.”
Photograph (detail) © Laurie Pepper
Post
Art Beyond Politics·

= Subscribers only.
Sign in here.
Subscribe here.

Arab artists take up — and look past — regional politics
“When everyday life regularly throws up images of terror and drama and the technological sublime, how can a photographer compete?”
“Qalandia 2087, 2009,” by Wafa Hourani
Criticism
The Soft-Kill Solution·

= Subscribers only.
Sign in here.
Subscribe here.

"Policymakers, recognizing the growing influence of civil disobedience and riots on the direction of the nation, had already begun turning to science for a response."
Illustration by Richard Mia

Percentage of G.O.P. House and Senate members in an April 2006 poll who believed humans are causing climate change:

23

Bees can remember human faces, but only if they are tricked into thinking that we are strange flowers.

“All I saw,” said a 12-year-old neighbor of visits to the man’s house, “was just cats in little diapers.”

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

HARPER’S FINEST

In Praise of Idleness

By

I hope that after reading the following pages the leaders of the Y. M. C. A. will start a campaign to induce good young men to do nothing. If so, I shall not have lived in vain.

Subscribe Today