Word: 1980s
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Ohio Marcy Kaptur, Democratic Congresswoman from Toledo, says the crisis "is as big as it gets. I haven't seen this kind of reaction from constituents since the [savings and loan] crisis of the 1980s. I am getting thousands of letters, phone calls, e-mails and faxes. A handful of them support some kind of bailout. But the overwhelming majority is against it." She cites one letter as representative of the bile poured forth against the bailout: "I live on $23,000 a year. Why should I be asked to bail out a bunch of overpaid greedy heads of companies...
...also (except in, say, Detroit and Cleveland) not the result of external economic factors like Texas in the 1980s or Southern California in the 1990s. It's a crash caused by the twisted dynamics of real estate finance in recent years...
...we’re in a recession,” he said. “I’m guessing we’ll end up having a recession like the 1980s, say the worst in 25 years, not one of the milder ones we’ve had recently. I think we might be back at full steam in 2010, but full steam will probably be slower than it used to be, because our financial system is decimated...
...life is turning around and opening up.”Even after gay students began coming out about their sexuality on campus, their experience was often difficult.Kevin B. Jennings ’85 recalls the devastation of HIV in the gay community throughout the 1980s. His freshman-year roommate, first Harvard boyfriend, and a best friend have all died from AIDS.“I can never step foot on this campus without thinking about my friends from the Class of 1985 who are gone,” he said.The conference’s last panel offered statistics on Harvard?...
...Wall Street, Oliver Stone’s classic film about bankers gone wild in the go-go 1980s, the protagonist, Bud Fox, is faced with a similar predicament. After his son’s finance career has gone up in flames, Bud’s father Carl counsels, “It’s gonna be rough on you but maybe in some screwed up way, that’s the best thing that can happen to you. Stop trading for the quick buck and go produce something with your life, create, don’t live...