Word: bigs
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Dates: during 2000-2009
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...investment-banking firm Lehman Brothers filed for bankruptcy protection after the Federal Reserve and the Treasury Department pointedly refused to bail the company out, and no other Wall Street outfit was willing to step into the breach. It was the largest bankruptcy ever in the U.S., but the really big news was what happened afterward. First came a financial panic that threatened to shatter the global capitalist order, then came an unprecedented, and unprecedentedly expensive, effort by governments on both sides of the Atlantic to patch things...
First, the fragility. Allowing Lehman to fail - cited often as the government's biggest boo-boo - started a chain reaction. There was a run on money-market funds after one big money-market fund revealed that it owned a lot of suddenly worthless Lehman debt. London-based hedge funds that relied on Lehman for day-to-day financing found themselves unable to do business because their accounts with Lehman's U.K. subsidiary were frozen. Similar dislocations played out around the world. Before long, financial institutions were paralyzed by fear. They simply didn't trust each other anymore, and didn...
...Expert was not impressed by his role. "The more I think about it, the more I'm sort of worried about anyone writing this," he reminded FlyBy's correspondents in an e-mail the day before the big Blackstone kickoff. "If we tool on these firms, the writer of them could potentially be blacklisted... in case they ever want to go work there...
...have a couple years to bond and build on one another.”“This is a huge opportunity for young players to step up and take a lead role,” Green said. “It was definitely a big loss, losing Ko, an All-Ivy player, and Peterzan, our former captain and great Ivy talent, but our young players, especially freshmen, really stepped it up this first weekend.”Harvard controlled the tournament last weekend, coming away with five finalists and three champions. The performances of Cao and Tachibana highlighted...
...movement. All of the major figures on the right have too much riding on Berlusconi, who paradoxically grows in power even as the scandals seem to weaken his moral authority. In some ways, Berlusconi is the Italian political equivalent of Bank of America or AIG: he is simply too big to fail. Too many who have carved out their slice of power would risk losing it all in the monumental shakeout that would follow Berlusconi's exit from politics. And even in that unlikely scenario, the Prime Minister would have his ownership of the nation's major private television networks...