Word: calm
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...subdued television address on Sunday night, ousted South African President Thabo Mbeki announced that he had submitted his letter of resignation to the speaker of parliament and will officially leave office once parliament chooses an interim successor, as it is expected to do within a month. Mbeki appeared calm and dignified as he defended his legacy of 14 years as the premier policy architect of a post-apartheid South African state, first as deputy president under Nelson Mandela from 1994 to 1999, then as head of state. But despite his demeanor, it was a bitter moment...
...This weekend, ANC heavyweights hastened to calm fears of instability in the wake of Mbeki's resignation. Members of cabinet had last week threatened to resign if Mbeki went, but after meeting with the ANC executive leadership over the weekend, most indicated that they would stay on, including highly respected Finance Minister Trevor Manuel. "Everything goes on as normal," his spokeswoman Thoraya Pandy told reporters...
...weight of history has become too heavy. As the events of the last week unfolded, ad hoc solutions from Bernanke’s Fed and the Treasury, led by the vigorous former 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?...
...over the possibilities, and Paulson said Friday that he would "spend the weekend working with members of Congress of both parties" to come up with legislation that he hoped to pass "over the next week." In the meantime, Treasury on Friday announced a $50 billion guarantee program meant to calm mounting fears about the safety of money-market mutual funds...
...remains placid, just like the river Welty describes: “The sandbars were pink or violet drifts ahead. Where the light fell on the river, in a wandering from shore to shore, it was leaf-shaped spangles that trembled softly, while the dark of the river was calm.” Welty explores the full scope of humanity in her stories, despite the profound racial tensions of the society in which she lived. In “Powerhouse,” which was originally published in 1941, she delves into the voices of a group of black musicians...