Word: chairman
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...know anything about cars.' EDWARD WHITACRE JR., the newly appointed chairman of GM, who added that "a business is a business, and I think I can learn...
...bipartisan panel tasked with scrutinizing how the Treasury Department - first George W. Bush's, now Barack Obama's - is spending the $700 billion in federal money intended in large part to shore up failing banks. The role has Warren monitoring the decisions of Treasury Secretary Timothy Geithner, Federal Reserve Chairman Ben Bernanke and the big-bank CEOs who have taken taxpayer money to clean up companies' balance sheets. If Warren's journey from Harvard to the center of the emergency financial-rescue effort were a movie, it could be called Out of the Library and into the Snake...
Does this sound familiar? The financial history of the past decade is replete with echoes of Fisher's colossal 1929 miscalculation. A brilliant Fed chairman was credited with banishing panics and ushering in what economists called the Great Moderation. An explosion of financial innovation was deemed to have provided investors, corporations and banks with new ways of managing risk. Prices of stocks, houses and other assets rose to levels that were high by historical standards--but who was to say the market was wrong in fixing those high values...
...first thing to bend in the face of this new realization is the accelerated, ambitious schedule that key committees have set for themselves. Senate Finance Committee chairman Max Baucus, who had breezily told reporters as recently as June 16 that he would have a bill ready by the end of the week, suddenly announced on June 17 that he had decided to "slow things down" and that his committee may not begin the formal process of drafting its bill until after the July Fourth congressional recess. If that's the case, it is hard to see how he can meet...
...June 17 despite a CBO estimate that its bill, as it stands, would increase the deficit by $1 trillion over the next 10 years and still leave the number of uninsured about two-thirds as high as it is now. Senator Chris Dodd, filling in for ailing committee chairman Ted Kennedy, hadn't even read his formal opening statement before he was interrupted by Republicans demanding a halt to the proceedings...