Word: bankes
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Dates: during 2000-2009
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...profit in 2007. As late as the first week of March this year, there was no reason to think it was in imminent danger. Then rumors began flying that it was. Lenders refused to lend, clients refused to trade, and suddenly Bear was out of money. It was a bank run, more or less. And the scary thing was that there is no entirely satisfactory explanation for why it hit Bear. One may emerge as JPMorgan Chase's bean counters dig through the books, and some have fingered rumor-mongering short sellers who stood to gain as the stock dropped...
...greatest power of the fed is that it can create dollars at will. It gets those dollars into the economy by buying Treasury securities on the open market. When you hear the Fed is cutting rates, that usually means it's ordering the traders at the Federal Reserve Bank of New York to start buying, and that drives short-term Treasury rates down...
...Administration to insure new loans for home owners facing foreclosure. But Congress could decide to take over and clean up every troubled financial institution in the land if things got bad enough. That would cost trillions, though, and still won't mean much if it's, say, a Swiss bank in big trouble...
...readers: James Nachtwey. Pairing Pico with Nachtwey, the planet's pre-eminent news photographer, seemed like journalistic Nirvana. The two first worked together in South Korea, 20 years ago. Jim, who has devoted his life to documenting wars and tragedy and famine everywhere from El Salvador to the West Bank to the Sudan, had always told us that if he ever had the chance to photograph the Dalai Lama, he would drop everything and do it. He got the chance and spent five days in March with the Dalai Lama in Dharamsala. He was permitted into His Holiness's private...
...Love and Life and, on the Internet, The Tyler Perry Show. All of which make him the most successful "unknown" conglomerate in show business. If official culture takes little notice of Perry, that's O.K. with him. He can laugh all the way to the altar and the bank...