Getting Into Kindergarten In New York City Will Remain Stressful

The Fed allotted $9.4 billion in overnight reverse repos through the facility at a fixed-rate of 0.01 percent. The operation was open to the Feds 139 tri-party reverse repo counterparties, which includes 94 money market mutual funds, six government-sponsored entities, 18 banks and the Feds 21 primary dealers. Each eligible counterparty was limited to a maximum bid amount of $500 million. The collateral for the transactions was limited to Treasury debt. This exercise is not intended to materially affect the current level of short-term interest rates , the New York Fed said in a statement on Sept. 20. This work is a matter of prudent advance planning and do not represent a change in the stance of monetary policy, the statement said. The New York Fed said in a separate statement today that it plans to increase the maximum bid amount to $1 billion from $500 million, beginning with tomorrows operation. Fed policy makers, while still buying bonds to support the economy, have also been developing methods to eventually help withdraw record monetary accommodation. Along with raising the overnight bank lending rate, Fed officials have said they may use tools including reverse repos to withdraw or neutralize cash in the banking system. In a reverse repo, the Fed lends securities for a set period, temporarily draining cash from the banking system. At maturity, the securities are returned to the Fed, and the cash to its counterparties. To contact the reporters; on this story: Liz Capo McCormick in New York at emccormick7@bloomberg.net To contact the editors responsible for this story: Dave Liedtka at dliedtka@bloomberg.net More News:

In his place, owner James Dolan will install Steve Mills, a former executive with the Madison Square Garden Company, as the new president and GM of the Knicks. What is it about this turn of events that’s so “curious,” that should have Knicks fans up in arms? For one, there’s the timing of it. The Knicks had the entire summer during which to switch up their management structure. Yet, they chose to do so mere days before the team is set to open training camp at the Madison Square Garden Training Center in Greenburgh, New York. As if a squad already fraught with questions about Carmelo Anthony’s MVP chops, JR Smith’s condition, the declining effectiveness of Amar’e Stoudemire and Tyson Chandler and the head-scratching decision to bring in Andrea Bargnani weren’t distractions enough for the Knicks, who are coming off their most successful season in over a decade. As if the impending battle for the hearts and minds of basketball lovers in the boroughs weren’t fierce enough, what with the Brooklyn Nets loading up on Hall-of-Famers and all. Nathaniel S. Butler/Getty Images Outgoing Knicks GM Glen Grunwald Which is all the more reason to wonder why Grunwald would, in essence, be ousted at all. It strikes me as a bit unusual for a GM to lose his job after the team he put together tallied 54 regular-season wins and netted its first postseason series victory since 2000. Then again, if coaches (i.e. George Karl, Lionel Hollins, Vinny Del Negro) can get the ax after leading their respective franchises to historic seasons, why shouldn’t GMs “enjoy” that same “privilege?” Remember, Grunwald’s the guy who brought Tyson Chandler to New York. He’s been responsible for digging up bargain-bin gems left and right, from Jeremy Lin and Steve Novak to Chris Copeland and Pablo Prigioni.

Why New York Knicks Fans Should Be Concerned About Latest Front Office Shakeup

The head of the group told the New York Times that the test was now tainted by these over-eager parents. So last week, after four decades, the association announced that it was no longer endorsing the test for kindergarten admissions. The administrators of the test, unsurprisingly, question the claim that test-prep efforts were actually inflating childrens scores. Elizabeth Mangas, vice president of admissions testing for the ERB, points to the companys own data , which found no substantial increase in scores over the last decade, nor any significant evidence of an upward trend in children scoring at the 90thand 98thpercentiles. But it appears there is one way test prep succeeds: It increases a childs overall anxiety level about the test and the kindergarten admissions process as a whole. And that anxiety is unlikely to go away, even if the ERB gets eliminated. It makes me really sad that four-year-olds are getting this kind of tutoring, said Dr. Nancy Close, PhD, a pediatric psychologist at Yales Child Study Center, who never recommends test prep at the preschool level. I wish parents could feel more confident in the way they are parenting, whether reading to their children, or helping them develop socially, all of the intangibles that a child take into a testing situation. Close says that the ERB and other developmental assessments like it are a rather benign experience for most toddlers. The ERB, administered to an individual child by a child-studies expert, takes around 45 minutes and has two parts: the verbal, which covers vocabulary, similarities, and listening comprehension, and the non verbal where a toddler interacts with pictures and blocks. Afterwards, a child is compared to students his or her age, by both year and month, in the national population. A parent receives three percentile scores, one for each section and one overall test score. The problem, according to Close, isnt the test itself, but the fact that children have great radars. They are fully aware and sensitive to an adults reaction to the admissions process, and when a parent gets fixated on a particular school, they too can feel quite anxious about it. Launa Schweizer, a humanities teacher at Brooklyn Heights Montessori, and a former lower school head of one of New Yorks most leading private schools, agrees that the ERB test itself isnt the root of the problem.