Word: crashing
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...that are more political and philosophical in nature: Should any bank be too big to fail? What should be done with financial activities that seem purely speculative and of questionable social use? How can the short-term, get-rich-quick mentality that drove so much market activity before the crash - and inflated those bonuses - be curbed? Is there a place for morality in the world of finance? (See the financial crisis after one year...
...Right Wing gave permission for all of us to use words we haven't used before: capitalism and socialism. So let's have a discourse. They called Obama a socialist because he told Joe the plumber he wanted to spread the wealth around. Then we had the crash and a month later Bush is talking about the glories of capitalism. I don't' remember in my lifetime where the President starts off a speech says, "And now class, today's topic is capitalism." They started using these words, so now it's on the table. Let's talk about...
...long drive around my hometown. Downtown, I visited a lovely new esplanade along the riverfront, two state-of-the-sport stadiums and a classic old hotel restored to modern luxury. In leafy Grosse Pointe, I saw handsome houses anyone would want to live in (and, thanks to the crash of the auto business, available at prices most Americans haven't seen in decades). At the General Motors Technical Center, in the industrial suburb Warren, the parking lots were mostly empty - an awful lot of engineers have been thrown out of work - but the survivors showed me some pretty impressive technology...
...This defiant inattention to market reality not only placed the less healthy firms in peril, but by pricing labor so uniformly high, it also closed off Detroit to any possible diversification of its industrial base. When the automakers' inattention to engineering, style and quality caused them to crash into a wall of consumer indifference, there was no other industry that could step forward and employ workers who would have been thrilled to make even a fraction of what they once earned. Now nearly 1 in 3 Detroit residents is out of work - and not many of the unemployed have...
...headed for the most successful domestic-policy year by a Democratic President since Lyndon Johnson's legislative tidal wave of 1965. Obama has pushed through a $787 billion stimulus package and doubled down on the Bush Administration's financial-crisis remedies, which seem to have prevented an economic crash. He is making quiet but substantial progress on education reform; his energy policy will probably be all carrots and no sticks - that is, no cap-and-trade program for carbon emissions - but it will provide a significant boost to green-energy industries. And despite the screechers of summer, he seems likely...