Word: crash
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...country to repay the $5 billion that's owed to the British and Dutch citizens who deposited their savings in an online Icelandic bank that collapsed in 2008. Icesave, a subsidiary of the Icelandic bank Landsbanki, offered eye-popping interest rates of up to 15% to foreigners before the crash. (See pictures of the global financial crisis...
...cards - around a quarter of all those in circulation in Germany - have been rendered unreadable by the software bug, causing chaos across the country. The situation harks back to the fears over the so-called millennium bug, which many experts thought would cause computer systems around the world to crash when the year switched over from 1999 to 2000. The difference: the millennium bug turned out to be a false alarm. In Germany, the Year 2010 bug has left millions of people fuming at the ATM. (See the top 10 panics...
...with sovereign bonds of potentially higher quality. Germany looks interesting to us. Germany has problems, but it's in a much better budget situation than the U.S. because of a constitutional amendment three months ago that forces a balanced budget in four years. (See pictures of the stock-market crash...
...deepest recession since the 1930s cast a shadow over the year, as the U.S. economy hemorrhaged jobs, manufacturing continued to erode, and housing prices failed to recover from the previous year's crash. Unemployment rose to 10.2%--the highest rate in 26 years--despite the Obama Administration's stimulus efforts, which pumped billions into the economy. Detroit was hit especially hard: Ford saw a steep drop in sales, Chrysler was taken over by Italian firm Fiat, and GM briefly entered bankruptcy. One bright spot was Wall Street, where stocks reversed much of 2008's decline. The economy showed encouraging growth...
...technique: Officials say Abdulmutallab tried to set off the incendiary mixture as the plane was in its descent to Detroit. This suggests that he was not merely trying to kill the passengers and crew but was probably hoping to make the plane crash in a populated area. The technique also has parallels with "shoe bomber" Richard Reid's failed attempt to bring down American Airlines Flight 63 just three days before Christmas 2001. The FBI affidavit charging Abdulmutallab also indicated that the Nigerian used PETN, the same explosive substance Reid tried to detonate...