Word: crisises
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By the end of that crisis, GM and Chrysler had received a total of $64 billion, while Ford got nothing - though like other automakers, it is receiving federal aid to develop green technologies. (Read "Ford Family Values: Why the Automaker Wants to Go It Alone.")
"That Ford was able to survive this harsh environment on its own is impressive, though much of the feat owes to a savvy decision in 2006 to mortgage all of its assets right down to its blue-oval trademark in exchange for $26 billion," says Toprak. "Taking out the mortgage...
First, the fragility. Allowing Lehman to fail - cited often as the government's biggest boo-boo - started a chain reaction. There was a run on money-market funds after one big money-market fund revealed that it owned a lot of suddenly worthless Lehman debt. London-based hedge funds that...
That brings us to lesson No. 2. In the early 1930s, powerful voices at the Treasury and Federal Reserve argued that the deep pain of financial crisis was a necessary economic corrective. "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate," Treasury Secretary Andrew Mellon advised President Herbert Hoover...
Read "Berlusconi in Crisis After Allegation of Affair."