Word: 1990s
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Dates: during 2000-2009
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...scheme is temporary. Buyer applications equivalent to a third of the program's $1.9 billion budget have already been submitted, with the remainder expected to be filed long before the program's Dec. 31 expiration date. When similar initiatives were launched in France and Italy in the early 1990s, Rhys says, "there was a big sag in the market when the scheme ended." That same prospect has angered some in the industry. Christian Streiff, boss of France's PSA Peugeot Citroën, warned such incentive schemes have an "inverse effect" - they essentially guarantee an implosion in the market once...
...best of my recollection, my fraud began in the early 1990s. At that time, the country was in a recession and this posed a problem for investments in the securities markets. Nevertheless, I had received investment commitments from certain institutional clients and understood that those clients, like all professional investors, expected to see their investments out-perform the market. While I never promised a specific rate of return to any client, I felt compelled to satisfy my clients' expectations, at any cost. I therefore claimed that I employed an investment strategy I had developed, called a "split strike conversion strategy...
...toxic assets out of a financial system and restore confidence so that consumers shop rather than stash their money in safe-deposit boxes. While domestic demand remains sluggish, government spending has to take up the slack and keep at it. In Japan, a recovery was aborted in the late 1990s when, at the first sight of green shoots, the government raised taxes. President Barack Obama is committed to reducing this year's federal budget deficit of $1.3 trillion by half in four years. That's a laudable goal - as long as private-sector demand has picked up by then...
...risk and this day would inevitably come," he said. "I cannot adequately express how sorry I am for my crimes." Madoff explained that his Ponzi scheme, run through an account held by his investment-advisory business at the Chase Manhattan Bank, began during a "recession" in the early 1990s. He believed he would be able to extricate himself and his clients from the scheme with time - but couldn't. But while admitting that the investment-advisory half of his company was fraudulent, he insisted that the proprietary-trading and market-making divisions (run by his brother and his sons...
...confessed his crimes, an insight that is missing from virtually all of the mainstream coverage of the trial. But the Rwanda story veers toward hagiography as it praises the Warrens' compassion and commitment to healing the African nation, which is still haunted by the genocide of the 1990s. (See the top 10 religion stories...