Word: crashes
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...housing crash and resulting credit crunch are already forcing U.S. households to retrench. Government--fearing disaster if everybody retrenches at the same time--has stepped into the breach. Again, that makes sense in a crisis. But once the panic has passed, the U.S. will simply be steering toward another, even bigger, crisis unless it finds something to replace debt as its No. 1 export...
...after that? Think the unthinkable. On Sept. 18, Paulson and Bernanke laid out the dark scenario for stunned-silent congressional leaders: a stock-market crash, businesses going under, unemployment soaring, consumers unable to get so much as a car loan, banks failing so fast that they would quickly drain the federal deposit insurance fund--and with it, countless people's life savings. And unlike the chain reaction that came over the course of weeks and months in 1929, this one would happen in a matter of days, if not faster. "The chain reaction," said Paulson, "is quicker than...
...blow out the deal, because the consequences of a collapse in the so-called shadow banking system would be much worse. Over the last 20 years Wall Street built what amounted to a parallel finance system that was specifically designed to avoid the banking safeguards implemented after the crash of 1929, which limited how much an institution could be leveraged in exchange for stability. The shadow system grew nearly to the size of the real banking system, and its demise now threatens both. "As much as I don't want to be here asking for this, it pains...
...black-and-green uniforms and aviator sunglasses, have spent decades stylishly shepherding the world to Italy, and Italians abroad. More recently, the handsome crews have also done their part - with plenty of help from Alitalia's inept senior management and shortsighted Italian politicians - to steer the airline on a crash course toward bankruptcy...
When it is fully operational, the $6 billion LHC will send beams of protons careening around a 17-mile underground ring, crash them into one another to re-create the immediate aftereffects of the Big Bang, and then monitor the debris in the hopes of learning more about the origins and workings of the universe...