Word: 1930s
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...financial house Mitsubishi UFJ agreed to honor a commitment to put $9 billion into the U.S. investment firm. Whether their presumption was right or not, it appears that Paulson and Bernanke believed that a failure at Merrill could have been an event worse than the banking catastrophes of the 1930s. This will remain an unanswered question. Would the common equity value of America's largest financial firms have gone to zero in a matter of days if Merrill had gone bankrupt? Would bondholders have suffered huge losses? Would the trouble have spread to even the healthiest financial firms...
...overabundance of squirrels in the Yard has long been a problem, spurring talks of giving squirrels birth control that have persisted since the 1930s. Given the randy behavior noted in #2, that doesn’t come as a surprise...
...Street, new initiatives in education, alternative energy and health care, and eventually budget savings that would bring down the national debt - which did sound a bit prosaic. Democratic politicians have been promising one or another, if not all, of the above since Franklin Roosevelt reinvented American government in the 1930s. But Obama was making his case in the midst of a national crisis, at a moment when it seemed possible that he might enact much of what he was seeking. And he was talking about far more than a new set of policies: he was implying...
...though, the banks may have no choice. Since the 1930s, regulators have been able to force banks to shore up their balance sheets by selling assets, even at prices lower than the bankers would like. The stress tests give the supervisors the ammunition they need to do that. "With the results of the stress tests in hand, it just gives you more leverage," says the senior government official involved in the tests...
...reflexive analogies, this is not the 1930s, when Babe Ruth took a $10,000 salary cut (roughly what A-Rod earns per swing) and New York City Mayor Jimmy Walker told theaters to show only cheery films. And yet we're channeling our grandparents, who were taught, like a mantra, to use it up, wear it out, make it do, do without. Now, if you can make it, you don't have to buy it: just replace the lawn with a vegetable garden, eat your fill and then store whatever is left. Sales of canning and freezing supplies rose...