Princeton University News
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The world’s top finance officials meeting last month were trying to commit jointly to reducing debt until Mark Sobel, a mid-level U.S. Treasury official who rarely speaks in public, led the charge to kill the effort.
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Robert Liang and his wife, Alice, are living arguments for backers of an immigration-law revision: Though undocumented, they’re hardworking small-business owners who don’t want government help. The immigrants from Taiwan also embody an argument for its opponents: They’re older than 50.
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Wall Street banks collected $215.6 million that Denver’s public schools paid to unwind swaps and sell bonds since the district began borrowing to cut pension costs in 2008. That sum is about two-thirds of annual teaching expenses.
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Bankers advising the Federal Reserve Board warned in February of potential harm to U.S. financial institutions from rising credit risk even as they endorsed the central bank’s record stimulus.
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Limiting leverage is “a crucial part” of guarding against future financial meltdowns, said Alan Blinder, former Federal Reserve vice chairman and current Princeton University economics professor.
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The Bretton Woods economic conference would make a great movie: Dashing celebrity economist John Maynard Keynes of the U.K. squared off against U.S. Treasury official Harry Dexter White, who was later revealed to be a Soviet spy.
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History has been kind to Bretton Woods, the international economic conference that took place in the mountains of New Hampshire in the summer of 1944.
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President Barack Obama’s top economist praised online educational courses as a “disruptive” development that may improve U.S. living standards.
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A former GE Capital associate with a fuchsia handgun on his $185 lilac tie gave out his business card near a Danish man twirling a Turkish woman. An American International Group Inc. employee left out his firm’s name when he said he works in risk.
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At a time when politicians are squeezing budgets to cut borrowing, the bond market is clamoring for more debt, pushing yields on almost $20 trillion of government securities to less than 1 percent.
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