Word: bearings
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Dates: during 2000-2009
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...been painted as something of a regulator missing in action - he's still explaining why he wasn't on particular conference calls during the Bear Stearns meltdown in March. (He told the Wall Street Journal he missed one call because the time changed, and he was involved in other calls throughout the weekend.) When he appears alongside Federal Reserve chairman Ben Bernanke and Treasury secretary Hank Paulson at press events he can seem dwarfed in stature, the representative of an agency with its roots not in sweeping monetary policy but in humble consumer protection. Created by Congress...
...months after the events that led to the collapse of Bear Stearns, two Harvard Business School professors are working on a case that analyzes what happened during those eventful days of mid-March...
...Palin may be an expert at shooting moose and bears. But if she were President how would she deal with the Russian bear? A. M. Gordhandas, SCUNTHORPE, ENGLAND
...Goldman Sachs CEO Henry M. “Hank” Paulson, proved unable to bring lasting calm to the market: Neither lower interest rates, nor greatly expanded liquidity helped thaw frozen credit markets. Even after brokered shotgun weddings like those of Merrill Lynch and Bank of America or Bear Stearns and JP Morgan Chase, what Professor Kenneth Rogoff once called the “flagship” American sector, the financial services industry, seems to have no bottom...
...Federal Reserve System can play this role on a short-term basis - halting panics by lending dollars in exchange for momentarily hard-to-sell assets, as it did early Thursday morning. But while the exigencies of the moment have led it to make longer-term investments in Bear Stearns and now AIG, it's widely agreed that this is bad policy. "The Fed is the guardian of the currency," says William Silber, a professor of finance and economics at New York University. "That's its job. Its job is not to subsidize people who made credit mistakes...