Word: crash
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Dates: during 2000-2009
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...book, Titanic's Last Secrets, Brad Matsen tells the story of wreck divers John Chatterton and Richie Kohler and their search for the truth about the Titanic's sinking in 1912. More than just a tragic iceberg crash, the story the divers uncovered is one of bad management, shoddy construction and an ocean liner that sank so quickly that most passengers didn't know what was happening until it was too late. Chatterton and Kohler talk to TIME about deep sea diving, investigating shipwrecks, and the allure of the Titanic...
...also (except in, say, Detroit and Cleveland) not the result of external economic factors like Texas in the 1980s or Southern California in the 1990s. It's a crash caused by the twisted dynamics of real estate finance in recent years...
...wreck,” implying it had been a long time in coming. With these sorts of opinions about the economy, it’s troubling that Paulson did not have such foresight. A Secretary of the Treasury who is unable to notice or acknowledge the symptoms of the crash should not be given an enormous sum to attempt to set us on track. It’s not surprising that his bailout solution is unpopular among economists and, according to polls, the American public. In a recent poll, 55 percent of Americans indicated that they do not favor bailing...
...stock market history. It didn't, but things were still really, really bad. The Dow ended the day down 778 points, or 7%, and the S&P 500 - a better measure of the overall market - was down 107 points, or 8.8%, its worst performance since the 1987 market crash. And markets for bonds and short-term loans were, for the most part, nonexistent...
...missed the news this week, you didn't miss all that much. The stock market threatened to crash, but didn't. John McCain threatened to skip the presidential debate unless members of Congress approved a huge financial bailout, but they didn't, so he didn't. The debate went on; the candidates stayed on message; the pundits all agreed that it wasn't a "game-changer." You did miss the largest bank failure in American history, not to mention a $25 billion bailout of the auto industry, but that's chump change these days, right? You might not have heard...