Word: crash
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...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...
...Survived a plane crash in 1978 that killed his wife. They had five children. Stevens later remarried...
...hard to put a smiley face on this stinker. A crash - and this one seems a doozy - usually announces the arrival of hard times. The real economic woe is yet to come, as credit dries up and the economy slips into recession. The power of the next President seems destined to be severely constrained by huge debts and diminishing tax receipts - unless he finds some creative ways out of the morass ... and if he doesn't, his presidency will be a failure. One plausible path to success is proposed by the moderate Democratic scholars William Galston and Elaine Kamarck...