Word: bankrupts
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Dates: during 2000-2009
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...said that last weekend’s G20 summit was a welcome sight for the beleaguered global economy, even if it has yet to produce noticeable results. “It is very important that there was a G20 meeting, not G7, because the G7 [countries] are all bankrupt now,” said Stiglitz, a Columbia University professor. He said that the inclusion of 13 rising economies was particularly meaningful because wealth has been shifting from America and Europe to Asia and the Middle East. “It is probably the best decision [President Bush] has made...
...three automakers? Nobody likes to see a competitor in this position because usually it messes up the whole market. When a big player is in trouble, the whole market is in trouble. Some people may think that competitors would be happy to see one car manufacturer go bankrupt, but I don't think so. Frankly, we are looking at it with a lot of anxiety...
...Korea in September, Kim nervously watched cash-starved golfers dump their memberships on an Internet site that tracks their value, sending prices plummeting. The country, he became convinced, was about to suffer a financial crisis even worse than the great conflagration that engulfed Asia in 1997, when a near bankrupt South Korea turned to the International Monetary Fund (IMF) for an emergency bailout. Fearing his investment would completely evaporate, he sold the membership in October for $190,000. In 1997, says Kim, "the crisis involved only a few countries. Now it has come from the strongest country in the world...
...grew. In the 1980s and '90s, the garden of American capitalism became a pretty energetic place. But it became a scarier place too. In the newly deregulated American economy, fewer people had job security or fixed-benefit pensions or reliable health care. Some got rich, but a lot went bankrupt, mostly because of health-care costs. As Yale University political scientist Jacob Hacker has noted, Americans today experience far-more-violent swings in household income than did their parents a generation ago. (See pictures of the 1958 recession...
...soft hydraulic whir of expectations being raised, the first week of the Obama transition was a quiet one. Indeed, the big news came from neither Chicago nor Washington but from Detroit and Beijing. In Detroit, General Motors - the stupendously clueless automaker - begged for a bailout lest it go bankrupt, thereby raising the question: If our resources are limited, why should we invest in the failed corporate past rather than in the technologies of the future? The obvious answer was to protect jobs. But how long would those jobs last without a significant overhaul of the company's management and priorities...