Word: crediteers
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...right parties, campaigning on anti-E.U. and anti-immigration platforms, made unprecedented gains in the national parliamentary elections, taking almost 30% of the vote. Both the Freedom Party and the Alliance for the Future of Austria have been tainted by accusations of neo-Nazism and xenophobia. Analysts, however, credit their success less to a tilt toward extremism than to widespread frustration among Austrians with the ruling moderate parties. The shaky coalition has proven unable to reach agreements on key economic and social issues...
...credit crisis has commentators dusting off comparisons to the 1930s, but so far, this feels more like a '70s flashback. It's not just that Zac Efron's hair is almost as shaggy as Shaun Cassidy's or that jeans are once again worn tight enough to read Braille through the back pocket. It's the whole feckless, zipless, helpless vibe that has settled across the land, from the factories of Motor City to the gas lines of Charlotte, from the boardrooms of New York to the subdivisions of California. What's that word again? Oh, yes: malaise...
...Washington and left the impression that he agreed with House Republicans who opposed the deal. Then McCain announced he would debate after all because the stalled negotiations were back on track, although in fact the on-track negotiations had stalled. They unstalled after he left, and McCain quickly claimed credit--only to see a majority of House Republicans crater the deal on the floor...
...crisis has gripped the American economy, with equity markets roiling and credit markets seizing up, Washington went to the well once more, as a lame-duck President joined Democratic and Republican congressional leaders to ask Americans to trust them with a $700 billion Wall Street rescue package. But the well of trust had long run dry. Outraged calls overwhelmed Capitol Hill switchboards, and on Sept. 29 the bailout failed in the House, panicking the markets anew. Washington is still likely to find a fix for the credit crisis, but after a series of corruption scandals and a longer series...
...money back or even turn a profit if the economy rebounds and those loans become less toxic. And while they keep repeating that the plan will help Main Street as well as Wall Street, they didn't make the case until all was nearly lost that the credit crunch endangers loans for cars, homes, farms and businesses--which in turn endangers millions of jobs and pensions. "I begged them to explain this to the guy on his couch, and they never did," says Congressman Steve LaTourette, an Ohio Republican in a swing district who voted against the bailout. "They never...