Word: crucial
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Dates: during 2000-2009
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Dramatic action in the banking industry is crucial, since the effects of the $787 billion American Recovery and Reinvestment Act will be strongly diminished if the credit crunch continues. The weeks spent debating the merits and drawbacks of the stimulus plan cannot go to waste. In an ordinary recession, the Federal Reserve could cut interest rates to get credit flowing, sparking the economy. However, in the words of our president in an interview with ABC News, “…we are in not just an ordinary recession.” With the target for the Federal Funds...
...looking at it. You could also say bank nationalization began in 1984 when regulators decided that Continental Illinois, then the nation's seventh largest bank, was too big to fail and put the Federal Deposit Insurance Corporation (FDIC) in charge of it. Or maybe the crucial moment came in 1933 when Congress decreed that small depositors should be protected from bank failures by the FDIC. Or in 1913 when Congress created the Federal Reserve System to halt banking panics and regulate the money supply. (See pictures of the stock market crash...
...Just like the Columbia-Dartmouth matchup, this will be a crucial game if both teams win Friday. After schooling the Tigers in the reverse fixture and sweeping Cornell and Columbia last weekend, the Bulldogs seem to have the edge as the Tigers have lost two of their last three home games. But Yale is just 2-3 on the road in the league, so who knows...
...York City, perhaps the nation's most prominent pulpit. Dolan inherits the second largest archdiocese in the United States, with 2.5 million Catholics in nearly 400 churches, on April 15. Known as a staunch defender of church orthodoxy, he is succeeding retiring Cardinal Edward Egan at a crucial time: the church in New York City faces a bleak economic future and is dealing with the fallout from a spate of controversial church and school closings. His résumé indicates that he's well suited for the challenge: Dolan helped unite the fragmented Catholic community in Milwaukee and staved...
...elections. But in order to fulfill any of her ambitious campaign promises - to stabilize the economy, quell jihadist activity and fight corruption, among others - the Prime Minister needs the cooperation, if not the support, of the army. And so her handling of this crisis will be a crucial test of her ability to balance the frustrations of Bangladeshis who are chafing under a powerful military with her own political imperative to maintain good relations with one of the country's largest, strongest and most stable institutions...