Word: businessese
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By noon Saturday, more than two-thirds of Oahu had power restored, 18 hours after the blackout started. The outage shuttered shopping malls and businesses and forced the Honolulu airport to cancel flights. Traffic signals went dark, leaving motorists crawling through streets with no lights. The Honolulu police department called...
But during all of that, there was also persistent anecdotal evidence that lending to credit-worthy borrowers was doing just fine - it seemed every other day some community bank CEO was on CNBC talking about how many loans his institution was making to small businesses and people who wanted to...
In October, Chari teamed up with two other economists, Lawrence Christiano and Patrick Kehoe, and wrote a paper called "Facts and Myths and the Financial Crisis of 2008." In it the economists wrote that the United States was "indisputably undergoing a financial crisis and is perhaps headed for a deep...
The back-and-forth can feel esoteric, but, in fact, it goes to the heart of solving the problem. "If losing firms are sucking up all the credit, then isn't the [correct] policy response to let banks cancel lines of credit?" asks Octavio Marenzi, CEO of the banking consultancy...
Or - maybe - the whole thing is just a canard, the backlash against a wave of political correctness that swept the U.S. in the late '90s, resulting in some strange new concessions to cultural sensitivity: cities insisting on calling the telltale conifers "holiday trees," efforts to ban the pleasantry "Merry Christmas...