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The challenge of bringing renminbi clearing to New York
Former New York City mayor Michael Bloomberg is pushing for a trading and clearing center in the United States for the renminbi, the Chinese currency, but experts say there are many hurdles before the American companies can trade and settle payments onshore...“Having a renminbi clearing hub in the U.S. will be more a symbolic, rather than economically significant, victory for China,” said Mark Wu
, a law professor focusing on international trade at Harvard University. “Whether renminbi -denominated financial instruments will grow over time depends on the speed with which China undertakes more market-oriented reforms at home, not where clearing hubs for its currency are located globally,” Wu said.
Yuan Move Is Good for China’s Politics
An op-ed by Noah Feldman.
The International Monetary Fund’s decision to designate the Chinese renminbi, commonly known as the yuan, as a global reserve currency will, over time, encourage the country’s leadership to make the currency more tradable. But the political implications of global reserve status may be more significant than the economic ones.
The Harvard Crimson
Law School Students Issue Demands on Diversity to Minow
At the third community meeting on race relations at Harvard Law School in as many weeks on Friday, students called on Law School Dean Martha L. Minow
to produce a “strategic plan” to implement student demands they say will improve the school’s treatment of minority students by 9 a.m. on Monday...The students are reiterating some previous student demands, such as calling on Harvard to change the Law School’s seal, which students have criticized for its connection to a slaveholding family. They are also asking the school to establish an office devoted to issues of diversity and inclusion, require staff members to go through “cultural competency” training, and lower tuition and expand financial aid to “improve affordability and financial access to HLS for students of color, students from low socio-economic backgrounds, and otherwise marginalized students.”...In an email sent to Law School affiliates on Friday, Minow wrote that she will carefully consider the student demands. “I listened carefully,” Minow wrote. “I will do my best to ensure that we find ways to work together, joining students, staff, and faculty to address proposals and above all to strengthen this School and its possibilities to be better and to make the world better.”
Meet the Press
Meet the Press – December 6, 2015
This Sunday morning, the terror attacks in San Bernardino. Did the killers get help? Why did no one see this coming? And can we prevent these kinds of attacks from happening here in the United States? We'll get the latest on the investigation from the very top. Attorney General Loretta Lynch joins us. Plus, the role of Islam. Are we dealing with a perversion of the religion or a strain of it? We'll have a debate. Also, terror and the campaign. Do the attacks help tough-sounding candidates like Donald Trump pull away from the pack?..Joining me this morning for insight and analysis are Rich Lowry of the National Review, Amy Walter of the Cook Political Report, Elisabeth Bumiller of The New York Times, and Harvard Law School's Charles Ogletree
Is it OK to shame late-paying customers on Facebook?
It's probably an understatement to say the cable industry hasn't done a good job winning the hearts and minds of consumers. Now, it may be falling even lower. A cable company in Canada this week started posting the names of delinquent customers to Facebook, including its own Facebook page as well as community pages on the social media service. The list included customers' names as well as their overdue payments, which went as high as $1,406.80, according to the CBC..."This is a huge deal," said Bruce Schneier
, a security technologist and a fellow at Harvard's Berkman Center for Internet and Security. "You are dealing with this immense power. When someone searches for you, it shows up. How do we deal with that?" He added, "The issue isn't whether people are deadbeats and should pay. The issue is whether the punishment fits the crime." For instance, a potential employer could search for one of those cable customers singled out by the cable company, and decide not to hire the candidate because of the posting. "Now you'll lose your career and your life because you didn't pay your cable bill," Schneier said.
Why Supreme Court Could Hear ‘Cannibal Cop’ Case
An op-ed by Noah Feldman.
There may have been a stranger and more lurid case in the federal appeals courts in 2015 than that of Gilberto Valle, the "cannibal cop." But if there was, I haven’t heard of it -- and it doesn’t carry the same high probability of going to the U.S. Supreme Court. A divided panel of the U.S. Court of Appeals for the 2nd Circuit on Thursday vacated both Valle’s conviction for conspiracy to kidnap and a second conviction for unauthorized use of a computer database to look up a possible victim. Both parts of the decision deserve a close look, for different reasons.
Past Administrators Join EPA in Power Plant Lawsuit
Two former Environmental Protection Agency administrators appointed by Republican presidents have joined litigation over the Clean Power Plan in support of the agency. William D. Ruckelshaus, the agency's first administrator, who was appointed by President Richard Nixon and later served under President Ronald Reagan as well, and William K. Reilly, who was appointed by President George H.W. Bush, filed a motion in the U.S. Court of Appeals for the District of Columbia Circuit Dec. 3 seeking to join litigation over the EPA's carbon dioxide emissions limits for existing power plants as amici curiae...Ruckelshaus and Reilly are represented by Harvard University law professor Richard Lazarus