Word: chaining
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Dates: during 2000-2009
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...surprise fourth quarter losses at Merrill, there are also some indications that Bank of America officials were kept in the loop. A chain of e-mails reviewed by TIME.com shows that Merrill employees were giving Bank of America executives regular updates about the deteriorating profits at the investment bank. In a response to a Dec. 3 e-mail detailing nearly $1 billion in additional Merrill trading losses, Neil Cotty, B of A's chief accounting officer, responded, "BTW ... thank you for this ... they did ask ..." Importantly, none of the e-mails say the information on Merrill's losses was needed...
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...
...Brian Williams of NBC's Nightly News the lone male anchor on the Big Three evening broadcasts. Gibson, who joined ABC as a Capitol Hill reporter in 1975, never expected to preside over the network's flagship news program. He was nearing the twilight of his career when a chain of unexpected developments--Peter Jennings' death in 2005, the head injury Bob Woodruff sustained in Iraq in 2006 and Elizabeth Vargas' pregnancy later that year--thrust him into the anchor's chair. He acquitted himself well, landing the first major TV interview with vice-presidential candidate Sarah Palin--a triumph...
...into as a young man: "I could see that their sticks were sharpened at the ends. Pig sticks, used for jabbing at pigs to encourage them toward the pen. Then I remembered that I was armed as well: wrapped around each leg of my MP pants ... was a bicycle chain ... I reached down and unhooked the chains. I started whirling them over my head...
...Hillary Clinton exposing an alleged atmosphere of fear and coercion among guards at the embassy in Kabul, which involved bacchanalian parties, hazing, prostitution and drunkenness. "The lewd and deviant behavior of approximately 30 supervisors and guards has resulted in complete distrust of the leadership and a breakdown in the chain of command, compromising security," the letter concluded. But while the embassy scandal may have come as a rude surprise to many Americans, Congress and the State Department have been fielding troubling complaints and reports about the contractor overseeing security for more than two years...