Word: comparisons
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...package, there's a crucial difference between the U.S. response and the European one: in Washington, Treasury Secretary Hank Paulson has been working closely with Fed Chairman Ben Bernanke to craft a systemic response to what has turned into a systemic crisis. In the 27-nation European Union, by comparison, there is no single bank regulator and no mechanisms by which to craft a comprehensive solution that crosses national borders. The result is what Daniel Gros of the Centre for European Policy Studies calls the "balkanization" of European banking, with national authorities struggling on their own - or, at best, with...
...hefty $7.6 billion; by 2002, Conseco had declared bankruptcy. "Green Tree was a house of cards, built on financial engineering that could not withstand the test of time," write the authors. It was the third largest bankruptcy in U.S. history at the time--one that now looks puny by comparison with today's debacles...
Frank began his talk by drawing a comparison between American politics today and in the late 19th century, which he called both the “Golden Age of American capitalism” and the “Golden Age of American misery...
...Brigadier General David Perkins, the senior officer overseeing the SOI transition, rejects the comparison as invalid. "This is a completely different situation than when the army was dissolved," he says, "because [for the Iraqi army] there were no guarantees, there were no contracts, there were no transition plans, there were no rehearsals, there were no efforts made by anyone." This time, he says, the U.S. military has exerted "an enormous amount of time and energy" to make sure "this is done properly...
...opposition from House Republicans, two-thirds of whom voted against the bill, despite the fact that it was conceived by the Bush Administration and supported by their presidential nominee, John McCain, who had suspended his campaign last week to return to Washington and work on the package. By comparison, 140 Democrats, some 60% of the caucus, voted...