Word: creditation
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Early on, the majority of people seemed to heap the most blame on barely regulated financial products, like credit-default swaps, which brought down AIG; mortgage brokers and their lax lending standards; and Wall Street bonus checks that rewarded short-term profits over prudent business decisions. Goldman Sachs, too, has come under intense scrutiny since the financial crisis, in part because of its ability to quickly turn around and seemingly profit from the mess...
...year since the crisis, a number of academics have pretty much refuted nearly every one of those early explanations as being too specific. Some economists have even questioned whether there was a credit crunch. Economic professor René Stulz of Ohio State University, for one, has written papers trying to clear Wall Street pay and credit-default swaps of any blame. Despite recent apologies, Goldman Sachs executives, too, say that they are no more to blame than anyone else in the financial markets. (See high-end homes that won't sell...
...holiday season proved merrier than expected for U.S. retailers, with MasterCard estimating a 3.6% increase in sales vs. 2008. Analysts credit the surge in part to an extra day of shopping between Thanksgiving and Christmas...
...right idea. Yes, leaving Alaska's governorship marked her as a quitter to some voters. But resigning has freed her to be a national figure (making a mint from her book) and shape the national conversation just by updating her Twitter feed. And if she can take credit for any Republican gains in 2010, that might be a better credential than drafting a state budget...
...Moody's credit rating report issued last April said that Harvard was considering halving its capital spending and new debt issuance, and the University recently announced that it would be halting construction of its Allston Science Complex, the roughly $1 billion cornerstone of the University's future campus across the Charles River...