Search Details

Word: crashes (lookup in dictionary) (lookup stats)
Dates: during 2000-2009
Sort By: most recent first (reverse)


Usage:

...Historical Parallels We tend to think of the Depression as having been triggered by the stock-market crash of 1929. The Wall Street crash is conventionally said to have begun on "Black Thursday" - Oct. 24, 1929, when the Dow Jones industrial average declined 2% - though in fact the market had been slipping since early September. On "Black Monday" (Oct. 28), it plunged 13%, the next day a further 12%. Over the next three years, the U.S. stock market declined a staggering 89%, reaching its nadir in July 1932. The index did not regain its 1929 peak until...

Author: /time Magazine | Title: The End of Prosperity? | 10/2/2008 | See Source »

...underlying cause of the Great Depression - as Milton Friedman and Anna Jacobson Schwartz argued in their seminal book A Monetary History of the United States: 1867-1960, published in 1963 - was not the stock-market crash but a "great contraction" of credit due to an epidemic of bank failures...

Author: /time Magazine | Title: The End of Prosperity? | 10/2/2008 | See Source »

...credit crunch had surfaced several months before the stock-market crash, when commercial banks with combined deposits of more than $80 million suspended payments. It reached critical mass in late 1930, when 608 banks failed - among them the Bank of the United States, which accounted for about a third of the total deposits lost. (The failure of merger talks that might have saved the bank was another critical moment in the history of the Depression...

Author: /time Magazine | Title: The End of Prosperity? | 10/2/2008 | See Source »

...Paulson and Bernanke have been specific only behind closed doors. On Sept. 18, they warned congressional leaders what inaction would bring: a stock-market crash, sky-high unemployment, Americans unable to get car loans, banks failing so fast that they would quickly drain the federal deposit insurance fund and people's life savings...

Author: /time Magazine | Title: Why Aren't Americans Buying the Bailout? | 10/1/2008 | See Source »

...said she soft-pedaled any concerns about his college fund to stop the panic. Biehl, whose parents filed for bankruptcy when she herself was in college, wrote: "I briefly explained that it's all cyclical." Still, on the Monday of the vote and subsequent market crash, Biehl took a look at her 401(k) and discovered she had lost $6,300. "But then I thought, I have still doubled my money since I first started investing and - as I wrote in my blog - this too shall pass," she says. While Biehl realizes the need to do something, she wants Washington...

Author: /time Magazine | Title: Why Main Street Is Mad: Scenes from a Financial Crisis | 10/1/2008 | See Source »

Previous | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | 91 | 92 | 93 | 94 | 95 | 96 | 97 | 98 | 99 | 100 | 101 | 102 | 103 | Next