Word: brinkly
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...short of cash when the money markets seized; on Sep. 12, Britain's third largest tour operator XL went bust leaving London club West Ham United without a shirt sponsor; and now insurance giant AIG, shirt sponsor at English and European club champions Manchester United, is teetering on the brink of collapse...
...West In getting it wrong, Samantha Power gets it more right than ever [Aug. 25]. Of course Putin is the real driving force of Russian aggression, and not his mouthpiece President Medvedev. While being rightly proud of its recent astonishing development, Russia is at the same time on the brink of a tour of conquest to restore its lost empire. We all know what happened the last time it did so: this Georgian adventure will not be its last. Maarten Molenaar, VEENENDAAL, THE NETHERLANDS...
...Wall Street collapsed with a bang, almost no one noticed that we're on the brink of war with Pakistan. And, unfortunately, that's not too much of an exaggeration. On Tuesday, the Pakistan's military ordered its forces along the Afghan border to repulse all future American military incursions into Pakistan. The story has been subsequently downplayed, and the chairman of the joint chiefs of staff, Mike Mullen, flew to Islamabad, Pakistan's capital, to try to ease tensions. But the fact remains that American forces have and are violating Pakistani sovereignty...
...particular risks that brought the company to the brink of bankruptcy seem to lie not with its core insurance businesses but with its derivatives-trading subsidiary AIG Financial Products. AIG FP, as it's called, merits a mere paragraph in the nine-page description of the company's businesses in its most recent annual report. But it's a huge player in the new and mysterious business of credit-default swaps: derivative securities that allow banks, hedge funds and other financial players to insure against loans gone...
...throw together the collapse of Lehman - the biggest-ever U.S. bankruptcy - the lightning takeover of Merrill Lynch by Bank of America, concerns that giant insurer AIG is now on the brink as well, and a financial crisis that has been rolling along for more than a year now, and you get a day that will be enshrined in the history books. Whether it will go down as an economy-shattering debacle or a near miss is something we'll only figure out over the coming days and weeks. The initial reaction of U.S. stock markets - down sharply but far from...